Boardroom Alpha Digest: Weds, Mar 1

by | Mar 1, 2023

Executive News

  • Richard De Schutter and Dr. Argeris Karabelas will step down from the Board of Bausch Health Companies (BHC)
  • Robert William Bennett officially took over as CEO and a Director at Innovative Food Holdings Inc. (IVFH)
  • Sean Menke, CEO of Sabre Corporation (SABR), will transition the CEO role to Kurt J. Ekert who is the current President. Menke will remain Executive Chair of the Board

Activism

  • Amidst an potential proxy battle with Elliott Investments, Salesforce (CRM) shares surged after hours on a strong earnings report

IPOs Upcoming

  • Opti-Harvest (OPHV) is looking at price ~$6.5M at a $3.5 – $4.0 range
  • NAVA HEALTH MD, LLC (NAVA) is looking to price $8.1M at $5 per share
  • Ultimax Digital, Inc. (NFTX) is looking to price ~$8.5M at a $4.0 – $5.0 range

SPACs

  • Sagalim Acquisition Corp. (SAGA) and Saudi Arabia Entertainment Corp.‘s merger agreement was called off by AEC due to the SPAC’s inability to raise enough committed financing to meet 50% of the min. cash requirement. The SPAC’s CEO is fighting a $1mm termination fee and attempting to sell its interest in the SPAC.
  • Capitalworks Emerging Markets Acquisition (CMCA) and Lexasure Financial agreed to combine in a business combination agreement

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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Biogen Inc. (BIIB) chairman Stelios Papadopoulos will not stand for reelection at the annual meeting, and other highlights of the day.

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Nelzon Peltz and Trian dropped their proxy fight against Walt Disney Co. (DIS) following Disney’s cost cutting, reorg, and board appointments.

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Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon. 

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