IronNet has announced plans to go public in a $1.2 billion agreement with special purpose acquisition company LGL Systems Acquisition Corp.
The combined company will be renamed IronNet Cybersecurity Inc. It will be listed on the New York Stock Exchange and trade under the ticker symbol IRNT.
IronNet says the deal will help fuel their growth in the cybersecurity market and drive further market adoption of IronNet's Collective Defense Platform.
Investors include Emles Advisors, Weiss Asset Management, and The Phoenix Insurance Company. Other existing IronNet investors include Bridgewater Associates, ForgePoint Capital, and Kleiner Perkins.
IronNet was founded in 2014 by former NSA and U.S. Cyber Command chief Keith Alexander.
The transaction has been unanimously approved by both the LGL and IronNet boards and is subject to the satisfaction of customary closing conditions.
More details of the deal can be found here.