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, 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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