Onyx Acquisition Co. I Announces Pricing of Upsized $230 Million Initial Public Offering
November 02 2021 - 9:13PM
Onyx Acquisition Co. I (the “Company”), a special purpose
acquisition company formed for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses, today
announced the pricing of its upsized initial public offering of
23,000,000 units at a price of $10.00 per unit. The units will be
listed on The Nasdaq Stock Market LLC and trade under the ticker
symbol “ONYXU” beginning November 3, 2021. Each unit consists of
one Class A ordinary share of the Company and one-half of one
redeemable warrant. Each whole warrant entitles the holder thereof
to purchase one Class A ordinary share of the Company at a price of
$11.50 per share. Once the securities comprising the units begin
separate trading, the Class A ordinary shares and warrants are
expected to be listed on The Nasdaq Stock Market LLC under the
symbols “ONYX” and “ONYXW” respectively.
Led by Director, Chairman and Chief Executive Officer Michael
Stern, the Company expects to focus on the general industrials and
construction technology sectors.
BTIG, LLC is serving as sole book-running manager for this
offering. I-Bankers Securities, Inc. is acting as co-manager for
the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 3,450,000 units at the
initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from: BTIG,
LLC, Attn: BTIG, LLC, 65 East 55th Street, New York, NY 10022, or
by email at ProspectusDelivery@btig.com.
The registration statement relating to the securities became
effective on November 2, 2021. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
The offering is expected to close on November 5, 2021, subject
to customary closing conditions.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
proposed initial public offering and the anticipated use of the net
proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s registration
statement and preliminary prospectus for the Company’s offering
filed with the Securities and Exchange Commission (“SEC”). Copies
are available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact:
Benjamin LernerPresidentOnyx Acquisition Co.
Ipress@onyxacqu.com
Onyx Acquisition Company I (NASDAQ:ONYXW)
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