Ajax I Ajax I operates as a blank check company, or special purpose acquisition company (SPAC), with no significant ongoing operations beyond pursuing a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, primarily targeting companies in internet, software, fintech, and consumer industries featuring defensible business models, large addressable markets, and strong unit economics. The company provides a public listing vehicle through its sponsored units traded on the New York Stock Exchange under the ticker AJAX-UN, consisting of common shares and warrants; it implements a sponsor structure with reduced promote to enhance deal competitiveness. Ajax I conducts its activities from its base in New York, New York, where it was founded in 2020 by Daniel Och, former Och-Ziff Capital Management leader, in partnership with Glenn Fuhrman of MSD Capital and strategic advisors including Steve Ells, Jim McKelvey, Kevin Systrom, and Anne Wojcicki. Geographically, Ajax I focuses on North American operations while seeking targets with scalable global potential. In August 2021, Ajax I completed a reverse merger transaction whereby Cazoo Group Ltd acquired it, transforming the combined entity into Cazoo, a UK-based online used car retailer listed on the NYSE; this deal, initially announced in March 2021 with an $8.1 billion pro forma equity value, marked Ajax I's primary business combination activity, after which its independent SPAC operations ceased and no further mergers, acquisitions, partnerships, or strategic shifts have occurred as of late 2025.