L&F Acquisition filed a prelimanry proxy calling for a shareholder meeting to vote on a deadline extension. The SPAc wabnts to push the deadline from May 23 to Aug. 24. No other business is slated for the upcoming meeting, according to the filing, although a date has not yet been publicized. The extension is needed to allow more time for the SPAC’s merger completion, according to the filing.
L&F has a merger agreement with ZeroFox, an enterprise Saas cybersecurity company, 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. Read more.
