Deals
Citadel Alumni Team Up With JDS’s Stern for New Blank-Check Firm
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A pair of former Citadel credit analysts are teaming up with real estate developer Michael Stern to launch a new blank-check firm, according to people with knowledge of the matter.
The special purpose acquisition company, dubbed Onyx Acquisition Co. I, has filed confidential paperwork with the Securities and Exchange Commission, some of the people said. It’s set to seek $200 million and plans to target companies in the general industrials and construction-technology sectors with an enterprise value of $1 billion to $2 billion, the people said.