Boardroom Alpha Digest: Mon, Jan 9

by | Jan 9, 2023

Executive News

  • Rite Aide Corporation (RAD) fired CEO Heyward Donigan and appointed Elizabeth (“Busy”) Burr as Interim CEO and member of the board. Donigan had served as CEO since 2019 with a (19)% annualized TSR during her tenure.
  • Emergent BioSolutions Inc. (EBS) announced a 5% workforce reduction and the elimination of various senior positions including Chief People Officer and Chief Strategy Officer.
  • Netflix (NFLX) poached Jeffrey Karbowski from PayPal Holdings (PYPL) where he will assume the role of Chief Accounting Officer
  • Morgan Stanley (MS) COO Jonathan M. Pruzan will retire at the end of January


  • Skyward Specialty Insurance Group, Inc. (SKWD) and MGO Global Inc. (MGOL) are expected to price IPOs this week


  • Former DeSPAC Paya Holdings Inc. (PAYA), via Betsy Cohen’s FinTech Acquisition Corp. III, agreed to be purchased by Nuvei Corporation (NVEI) in an all-cash deal valuing the company at $9.75 per share and a $1.3B EV.
  • First Light Acquisition Group (FLAG) announced a definitive agreement to take Calidi Biotherapeutics public. Calidi previously had plans to go public thru a different SPAC (ADOC) in a deal that was scrapped in August.

SPAC Calendar

Recent Analysis

Daily SPAC Update – July 19, 2024

AIBAF DeSPACs to PSIG. GAMC Sets Deal Vote. NOVV and BYNO Extension Votes Set. BlueRiver Acquisition  (BLUAF) Suspends Trading. CCIV Vote Moves to August.

Daily SPAC Update – July 17, 2024

ZLS – Zalatoris II Updates Trust Ahead of Vote. AFAR Extension Approved w/ 2.7M Redemptions. AVHI – Achari Ventures Extends. MACI Separate Trading Today. Ocean Capital Withdraws Registration.

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