Defense tech firm REDLattice strikes SPAC deal to go public in US
Defense tech firm REDLattice strikes SPAC deal to go public in US Sept 28 (Reuters) - REDLattice has agreed to go public in the US through a special purpose acquisition deal with blank-check firm Bold Eagle Acquisition BEAG.O, 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.
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.
(Reporting by Manya Saini in Bengaluru; Editing by Shreya Biswas)
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