UpTickMeA$AP
1 year ago
Market closed Monday.
As for what's ahead... Hard to speculate what the terms will be for any offer on shares to take it private.
The only thing really known, is the CEO hasn't performed well at all, needs to be gone, and hard to have any confidence in his ability to negotiate a good deal. This company is on the brink of bankruptcy, which gives all the power to the buyer in negotiations.
When it went public in 2021 via a special purpose acquisition vehicle (SPAC), IronNet was valued at $1.2 billion.
Now look at it.... Is it worth $1.2 billion? Not anymore.. But could in the future, in the right hands.
I can't even guess what the offer will look like..
Hoping for a couple bucks... Maybe I should say praying.. Just have to wait and see.
UpTickMeA$AP
1 year ago
Following a discussion with members of the Board of Directors of the Company on June 12, 2023, a joint venture affiliated with the Reporting Persons and an institutional investor (the βJVβ) delivered a proposal to the Board of Directors of the Company on June 13, 2023 pursuant to which (1) the JV would provide funding for the Companyβs on-going operational shortfalls until the completion of a proposed recapitalization; (2) the Board would make certain changes to the composition of management and the Board of the Company in consultation with the JV; (3) the Company and the JV would take steps necessary to remove the Company from the public securities markets and take it private (the βtake privateβ transaction); and (4) following the consummation of the take-private transaction, the JV and its co-investors would provide an additional capital infusion to the Company. The foregoing description of the proposal does not purport to be complete and is subject to, and is qualified in its entirety by reference to full text of the proposal filed herewith as Exhibit 9 and incorporated herein by reference.
UpTickMeA$AP
2 years ago
On October 11, 2022, GEN Keith B. Alexander (Ret.), President and Chief Executive Officer of IronNet, Inc. (the βCompanyβ) agreed to voluntarily reduce his annual base salary to $50,000, effective as of October 1, 2022.
This seems laughable, considering he took his company public not long ago, and immediately sold off shares, making him over $5,000,000.00
I wonder how the lawsuits are going. I'd love to be a fly on the wall. Such a high level person at one time, to this? I bet the true story behind the happenings with him, and this company, are a very interesting story.