LGL Systems Acquisition said shareholders voted in favor of the merger with IronNet Cybersecurity.
IronNet stock and warrants begin trading today on the NYSE under IRNT and IRNT.WS.
LGL in a press release said 93% of its shares were redeemed in connection with the business combination.
The combined company received gross proceeds of approximately $136.7 million, which includes $125 million from a PIPE that closed concurrently with the business combination and approximately $11.7 million from the trust account after deducting funds to satisfy redemptions.
Announced in March, the deal originally called for approximately $267 million in net proceeds, which assumed no redemptions. Read more.
