Boardroom Alpha Digest: Thurs, Jan 5

by | Jan 5, 2023

Executive News

  • Stitch Fix (SFIX) CEO Elizabeth Spaulding has resigned after having just taken the post in August 2021. Co-Founder and former CEO Katrina Lake returns as Interim CEO until the company finds a replacement. SFIX also announced 20% layoffs in its workforce
  • David Flitman officially took over as CEO of US Foods (USFD) replacing Andrew Iacobucci in a move that was announced in November

Activism Situations

  • Impactive Capital has officially nominated 4 directors to the board of Envestnet, Inc. (ENV). The firm cites underperformance, poor governance and lack of shareholder alignment as its catalysts, and follows a letter the company sent the board last November. See the proxy here.

IPOS

  • Johnson & Johnson (JNJ)‘s Consumer Health arm Kenvue Inc. has filed for an IPO. The company has yet to set terms on the offering but boasts over $15.1B net sales for 2021 and includes “iconic brands Tylenol, Neutrogena, Listerine, Johnson’s, Band-Aid, Aveeno, Zyrtec and Nicorette”

SPACs

  • For the second time this week a sponsor forfeited its private placement assets (Class A shares this time), in what some are calling a potential tax-loss harvesting play. In this case it was two’s (TWOA) sponsor
  • DTRT Health Acquisition Corp. (DTRT) and Consumer Direct Holdings terminated their merger agreement and DTRT announced that it will liquidate

SPAC Calendar

Recent Analysis

Daily SPAC Update – April 3, 2026

Alphatime Extension Approved. Technology & Telecommunication Deal with Super Apps Approved. Horizon Space Sets Extension Vote. Idea, Proem and Willow Lanes Separate Trading.

Daily SPAC Update – April 2, 2026

Everest Consolidator Wants to Withdraw Interest. Spartacus Acquisition II Separate Trading Today. Hall Chadwick Non-Binding LOI with REEcycle.

Daily SPAC Update – April 1, 2026

VCIC DeSPACs to CoinShares (CSHR). Crown Reserve Deal with Carvix Announced. Sim Acquisition Extension Vote Set. SPAC Late 10-K Filings Pile Up.

Daily SPAC Update – March 30, 2026

Vine Hill + CoinShares Deal Approved. Super Apps + Technology & Telecommunication Acq Deal Vote. Cambridge and Hennessy Capital VIII Separate Trading.

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