IronNet, a cybersecurity company founded by U.S. Army veteran Keith Alexander, has completed its merger with LGL Systems Acquisition Corp. after the latter’s stockholders approved the business combination at a special meeting Thursday.
Both parties first announced the deal in mid-March and McLean, Virginia-based IronNet will start trading on the New York Stock Exchange Friday under the ticker symbol âIRNT,â the special purpose acquisition company said Thursday.
The combined company raised approximately $136.7 million through the transaction, including $125.0 million from a private placement and another $11.7 million from a trust account.
âAmid the backdrop of a series of U.S. presidential-level cybersecurity initiatives â including three recent Executive Orders and a high-profile summit focused on improving cyber resilience across public and private sectorsâ IronNet is entering the public market at a time of rapidly escalating demand for effective cyber defense,â said Marc Gabelli, Chairman of LGL Systems Acquisition Corp.
