Michael Stern to Launch $200M SPAC with Former Citadel Analysts: Report

IPO

JDS Development’s Michael Stern has filed confidentially to launch a SPAC with two former Citadel credit analysts, Bloomberg reports.

Onyx Acquisition I plans to raise $200 million to target general industrial and construction-tech companies valued at between $1 billion and $2 billion. Stern will be chairman of the blank-check company. Read more.

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