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IronNet in Talks to Go Public via Gabelli’s LGL Systems

  • Blank-check firm is discussing raising new equity for a deal
  • A transaction could value the combined entity at $1.2 billion

IronNet Cybersecurity Inc., a company started by a retired four-star general of the U.S. Army, is in talks to go public through a merger with LGL Systems Acquisition Corp., according to people with knowledge of the matter.

The special purpose acquisition company is discussing raising new equity to support a transaction that’s set to value the combined entity at about $1.2 billion, said the people, who requested anonymity because the talks are private.