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 – May 10, 2025

Goal Acquisition and CrownProptech Acquisition Extensions Approved. Investcorp AI Extension Vote Today. BSII, BNIX, IGTA Deal/Extension Votes Set. RENE Delisting.

Daily SPAC Update – May 9, 2025

EGH Acquisition $150M SPAC IPO. Mountain & Co Extension Vote. ClimateRock Extends with $25M Redeemed. Buja DeSPACs to Global IBO (GIBO).

Daily SPAC Update – May 7, 2025

Dune Acquisition II $125M SPAC IPO. Distoken and Winvest Deal Vote Delays. DT Cloud Sets Date to Vote on Extension Fee Changes. Healthcare AI Extension Approved w/ $3M Redeemed.

Daily SPAC Update – May 6, 2025

May Starts Hot for SPAC IPOs. Hennessy Capital VI + Namib Minerals Deal Vote. Alpha Star + OU XData Group Approved. Investcorp AI to OTC.

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