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.

IPOs

  • 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

SPACs

  • 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

Recent Analysis

Daily SPAC Update – June 14, 2024

PLMI Extension Vote. TETE Extends. COOL Sets Extension Vote. GPAC Investor Deck. BAYA, RCFA, GAMC Merger Agreements. COOL, RWOD, FLFV Update Trust Values.

Daily SPAC Update – June 13, 2024

Catcha Investment (CHAA) + Crown LNG Approved. DHAC + VSee Labs Deal Approved. SEDA Investor Deck. Feutune Light (FLFV) Updates Trust & Redemptions.

Daily SPAC Update – June 10, 2024

Bayview Acquisition Corp + Oabay Inc. SPAC deal announced. EVE extension vote today. BUJA sets extension vote. PWUP amends merger agreement. COOL postpones to June 26.

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