Security Firm Founded by Former NSA Director Joins the NYSE as a Public CompanySecurity Firm Founded by Former NSA Director Joins the NYSE as a Public Company
IronNet finalized a planned merger with LGL Systems Acquisition Corp. and began trading on the NYSE under symbol IRNT on Aug. 27.
August 30, 2021
IronNet, the cybersecurity startup founded by former NSA director and retired Gen. Keith Alexander in 2014, has finalized a previously announced merger with special-purpose acquisitions firm LGL Systems Acquisition Corp. and joined the New York Stock Exchange (NYSE) as a publicly traded company.
"As a public company, we intend to apply our increased financial resources to accelerate product innovation for our customers and expand our portfolio of offerings. We are grateful to LGL for their support of IronNet and their faith in our mission, and we look forward to making the world a safer place with Collective Defense," Alexander, who is co-CEO of IronNet, said in a statement.
IronNet offers a network detection and response platform that uses what it calls "collective defense," a collaborative approach that it says draws from the expertise of former NSA offensive and defensive experts who work at the firm. IronNet received $136.7 million in gross proceeds from the deal, and its shareholders rolled their equity holdings into the new public company.
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