Defense tech firm REDLattice strikes SPAC deal to go public in US
U.S. 100 dollar banknotes are seen in this picture illustration taken in Kiev, Ukraine, October 31, 2016. REUTERS/Valentyn Ogirenko/Illustration
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
Sept 28 : REDLattice has agreed to go public in the US through a special purpose acquisition deal with blank-check firm Bold Eagle Acquisition, the companies said on Monday.
The transaction values the US-based defense technology company at a pre-money enterprise value of $1.25 billion.
Here are some details:
• The deal is expected to generate proceeds of up to roughly $610 million, including $335 million in committed capital from new and existing mutual fund and institutional investors.
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
• It comes as special purpose acquisition companies (SPACs), an alternative route to public markets, are making a comeback in the US after years of subdued activity.
• A SPAC is a shell company that raises capital through an initial public offering and then uses the funds to merge with or acquire a private company, taking it public without a traditional IPO.
• Founded in 2012, REDLattice provides lawful intercept, vulnerability research and intelligence acquisition solutions.
• “The company sells exclusively to government agencies at the nation-state or federal level and is a trusted partner to more than 100 customers across 23 countries,” it added.
• After the deal closes, REDLattice expects to trade on the Nasdaq under the ticker symbol “REDL.”
• The companies expect the deal will close around year-end 2026.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
