$1.3BSPACAerospace & Defense
Defense cyber firm RedLattice to go public via $1.25B SPAC merger
RedLattice will merge with Bold Eagle Acquisition Corp. to list on Nasdaq under ticker REDL at a $1.25 billion pre-money valuation, closing expected around year end. The deal could raise about $610 million absent redemptions, including $275 million of 4% convertible notes from Loomis Sayles and $60 million of common stock bought by AE Industrial and the sponsor. Revenue rose 29% to $267 million in the year to June 30.
Why it matters: It is a rare large SPAC in national security tech, and gives AE Industrial a public currency for the Paragon-RedLattice intelligence platform.
Read the full coverage, free
We only link to sources you can read without a subscription. How we check.