Onyx Acquisition Co. I
ONYXW
NASDAQ Global Market0.00
USD
+0.00
- -
CIK
0001849548
ISIN
KYG6755Q1174
CUSIP
G6755Q117
Return %
Stock
S&P500
1Y
-75.73
26.53
3Y
-99.55
76.60
5Y
-99.55
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Michael Zev Stern
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 104 5th Avenue New York City NY United States of America 10011
- CIK
- 0001849548
- Similar Companies
- Business
- Onyx Acquisition Co. I is a special purpose acquisition company (SPAC) formed in 2021 and headquartered in New York, New York. The company is primarily engaged in effecting mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations with one or more businesses or entities. It focuses on targeting business combinations predominantly within the general industrials and construction technology sectors, including industries such as aerospace and defense, air freight and logistics, airlines, building products, commercial services and supplies, construction and engineering, electrical equipment, industrial conglomerates, machinery, marine, professional services, road and rail, distributors, and transportation infrastructure. The company does not currently have operations or generate revenue on its own. Onyx Acquisition Co. I's core business is to serve as a blank check company providing a platform for capital deployment to identify and complete strategic business combinations. Notably, in January 2023, it entered advanced discussions with Helios Investment Partners regarding a potential business combination to form Helios Energy Transition Infrastructure (HETI), a platform focused on developing natural gas and low-carbon energy infrastructure in Africa aimed to serve over 200 industrial clients. This proposed transaction was expected to have an enterprise value of approximately $1 billion with a target completion in the second half of 2024, though it remained subject to negotiation, due diligence, shareholder approval, and financing commitments. However, as of late 2024, Onyx Acquisition Co. I announced it would redeem all outstanding Class A ordinary shares after failing to complete an initial business combination by its November 5, 2024 deadline. The company planned to cease operations, initiate winding-up procedures, delist from Nasdaq Capital Market, and terminate its securities registration. Shareholders would receive funds from the trust account, approximately $11.42 per share, reflecting the balance held less dissolution costs. The failure to finalize a business combination marked a significant recent operational change, with the company's warrants expiring worthless upon the redemption completion. Therefore, Onyx Acquisition Co. I primarily operates as a merger acquisition vehicle, targeting industrial sectors in North America and Africa through potential infrastructure and technology-related deals, but is currently in the process of dissolution after unsuccessful business combination attempts since inception. Its key corporate developments center on strategic discussions with energy infrastructure investors and recent execution of mandatory share redemptions under NASDAQ rules following missed transaction deadlines. The company remains listed on NASDAQ under the ticker ONYXW until the delisting process completes.