Boardroom Alpha Digest: Wed, Feb 1

by | Feb 1, 2023

Executive News

  • Fedex Corp. (FDX) is reportedly laying off 10% of its global management workforce, joining several other mega cap companies to do the same in recent weeks.
  • Illumina, Inc. (ILMN) announced that interim CFO Joydeep Goswami has been appointed to the permanent position of CFO
  • Ryan McInerney officially took over as the new CEO of Visa, Inc. (V), replacing Al Kelly, and was also appointed to the board. Al Kelly will remain as Executive Chairman of the Board.


  • Three traditional IPOs are expected to price this week:
    • SONDORs, Inc. (SODR), $8.00 – $10.00, 2.5M shares
    • Neuraxis, Inc. (NRXS), $7.00 – $9.00, 1.875M shares
    • Asset Entities Inc. (ASST), $5.00, 1.5M
  • Cetus Capital Acquisition Corp. (CETU) priced a $50M offering, targeting InfoTech and IoT


  • Seaport Calibre Materials Acquisition Corp. (SCMA) despite passing its extension vote, instead elected to liquidate given its tangible net assets will be < $5M due to high level of redemptions
  • Mason Industrial Technology, Inc. (MIT) announced it will liquidate its shares Feb-15
  • Pono Capital Two, Inc. (PTWO) discreetly announced a $1.2B merger with SBC Medical

SPAC Calendar

<a href="" 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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