Onex, an investment manager, agreed to invest $400m in Emerald Holding, an organizer of B2B trade shows. Onex will acquire $263.5m of preferred stock in an initial private placement and will also backstop a rights offering of $136.5m of the same series of preferred stock to the company’s other holders of common stock as of the record date. “We are extremely pleased to expand our relationship with Onex as we position our business for recovery once the impact of Covid-19 is behind us. We have continued confidence in our strategic plan and the long-term prospects of our marketplaces. The capital we are raising positions us to build on the strength of our brands and accelerate new growth opportunities we expect will arise during these uncertain times,” Brian Field, Emerald Interim President and Chief Executive Officer.