Boardroom Alpha Digest: Tues, Jan 10

by | Jan 10, 2023

Executive News

  • Jacobs Solutions Co. (J) responded to a Glass Lewis report defending their drop in board gender diversity as acceptable given the value of keeping its outgoing CEO on the board, and adding an 11th board member
  • Former Pfizer (PFE) CFO Frank D’Amelio joined the board of Hewlett Packard Enterprise (HPE)
  • SilverBow Resources, Inc. (SBOW) added two female directors, Jennifer M. Grigsby and Kathleen McAllister, to its previously all male board

IPOS

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

SPACs

  • Another former DeSPAC merger, albeit this time Wejo Group Ltd. (WEJO) will be merging with a different SPAC, TKB Critical Technologies 1 (USCT). Wejo originally went public in 2021 via Virtuoso Acquisition Corp. at an $800M EV. The new transaction values WEJO from $112M — $412M depending on the ultimate outcome.
source: company investor presentation
  • Mercato Partners Acquisition Corporation (MPRA) signed an LOI with “the leading private serial software business acquirer in Latin America” Nuvini
  • Global Partner Acquisition Corp II (GPAC) reported that 26.7M out of 30.0M public shares have redeemed as part of its extension vote. Shareholders have until Wednesday to reverse.

SPAC Calendar

<a href="https://www.boardroomalpha.com/author/draps/" target="_self">David Drapkin</a>

David Drapkin

Spent his formative years at Goldman Sachs and now embraces the start-up life in NYC. A long suffering Oakland (Las Vegas) Raiders fan and graduate of the Wharton School at the University of Pennsylvania. Semi-professional go-kart racer waiting for his shot.

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SPAC Research & Analysis

Boardroom Alpha Digest: Wed, Feb 1

Fedex Corp. (FDX) announced it would be laying off ~10% of its corporate workforce and Ryan McInerney officially takes over at Visa (V).

Know Who Drives Return Podcast

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