Boardroom Alpha Digest: Tues, Jan 17

by | Jan 17, 2023

Executive News

  • Tamara Brandt, Chief Legal Officer and Head of Business and Legal Affairs at FaZe Holdings (FAZE) resigned to join CAA. In addition, FAZE stock fell ~23% on the day, perhaps due to a lock-up expiration following a 6-month restricted period following the company’s public debut in July.

Activist Situations

  • Walt Disney Co. (DIS) clapped back against Trian Fund Management and Nelson Peltz by filing a presentation in defense of its current board and stating that Peltz “does not understand Disney’s business…”

IPOS

  • The 2023 IPO market officially opened as two IPOs priced on Friday: MGO Global (MGOL) raised $7.5M at $5.00 per share, and Skyward Specialty Insurance Group (SKWD) raised $134M at $15.00 per share. SKWD is healthily above its offer price ~$19, while MGOL is still around offer at $4.95.

SPACs

  • Brian Hinchcliffe, Vice Chair of African Gold Acquisition Corp. (AGAC) whose former CFO, Cooper J. Morgenthau was previously charged with fraud, resigned from the company
  • PepperLime Health Acquisition Corporation (PEPL) shareholders approved an extension until October. $161M of the trust redeemed leaving $12.8M

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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