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IronNet concludes SPAC merger; begins trading on NYSE
Next-gen Cybersecurity
Aug 27, 2021
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Next-gen Cybersecurity

Next-gen Cybersecurity

Aug 27, 2021

IronNet concludes SPAC merger; begins trading on NYSE

M&A
Listing

  • IronNet, a provider of threat detection and response solutions, announced the completion of its merger with the special purpose acquisition company (SPAC), LGL Systems Acquisition Corp (LGL). The combined entity “IronNet Inc” commenced trading on the New York Stock Exchange (NYSE) on August 27 under the ticker “IRNT”.

  • The merger, first announced in March 2021, valued IronNet at USD 927 million. The company received approximately USD 136.7 million in net proceeds through the transaction, comprising USD 125 million in additional private investment and USD 11.7 million in cash proceeds from LGL’s former trust account. The company expects to channel the funding toward global expansion initiatives.

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