ZeroFox an enterprise Saas cybersecurity company, and L&F Acquisition today announced plans for a merger at an expected equity value of approximately $1.4 billion, assuming no redemptions.
As part of the transaction, ZeroFox will acquire IDX, a digital privacy protection and data breach response services company.
If approved, ZeroFox Holdings expects to list under the ticker symbol ZFOX on the NYSE.
The deal is expected to put over $250 million of cash on the combined company’s balance sheet. This reflects $175 million of cash held in the SPAC’s trust (assuming no redemptions) as well as a $170 million PIPE led by Monarch Alternative Capital with participation from Victory Park Capital, Corbin Capital, as well as existing shareholders New Enterprise Associates, Highland Capital, Alsop Louie Partners, Blue Venture Fund, Peloton Equity, Forgepoint Capital and James C. Foster, Chairman and CEO of ZeroFox. Read more.
