Onyx Acquisition Co. I Announces Pricing of Upsized $230 Million Initial Public Offering
Onyx Acquisition Co. I announced the pricing of its upsized initial public offering (IPO) of 23 million units at $10.00 each, set to trade under the ticker symbol ONYXU on Nasdaq starting November 3, 2021. Each unit includes one Class A ordinary share and one-half of a redeemable warrant. The company focuses on general industrials and construction technology sectors. The IPO is expected to close on November 5, 2021, with an option for underwriters to purchase an additional 3.45 million units. The registration statement became effective on November 2, 2021.
- Successfully priced an upsized IPO of 23 million units at $10.00 each.
- Focus on the general industrials and construction technology sectors may lead to significant market opportunities.
- No immediate financial data provided regarding expected net proceeds or use of funds.
- Forward-looking statements indicate uncertainty about the offering's completion and intended use of proceeds.
New York, New York, Nov. 02, 2021 (GLOBE NEWSWIRE) -- 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
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 Lerner
President
Onyx Acquisition Co. I
press@onyxacqu.com
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