Quarterly report pursuant to Section 13 or 15(d)

Reverse Recapitalization (Tables)

v3.21.2
Reverse Recapitalization (Tables)
9 Months Ended
Oct. 31, 2021
Business Combinations [Abstract]  
Summary Of Reconcile Elements Of The Business Combination

The following table reconciles the elements of the Merger to the condensed consolidated statement of cash flows for the nine months ended October 31, 2021:

 

 

 

Recapitalization and associated transactions

 

Cash (Trust)

 

$

173,015

 

Redemptions

 

 

(159,763

)

Less: fees to underwriters and advisors

 

 

(9,038

)

Net cash received from Merger recapitalization

 

 

4,214

 

Issuance of PIPE Shares

 

 

125,000

 

Less: PIPE fees to underwriters and advisors

 

 

(21,179

)

Net cash received from PIPE Shares and Merger recapitalization

 

 

108,035

 

Less: debt settlement

 

 

(21,266

)

Net proceeds from Merger recapitalization, PIPE Shares and debt settlement

 

$

86,769

 

Summary Of Common Stock Issued Following The Consummation Of The Business Combination

The number of outstanding shares of common stock of the Company as of October 31, 2021 is summarized as follows:

 

Shares by Type

 

Number of shares

 

 IronNet Class A Common Stock outstanding previous to the Merger

 

 

67,501,813

 

Issuance of common stock (exercises of ISOs and warrant)

 

 

28,734

 

Number of Shares issued at the date of the business combination ( Recapitalization)

 

 

 

LGL Class A Common Stock outstanding previous to the Merger

 

 

17,250,000

 

Less: Redemption of LGL Class A previous to the Merger

 

 

(15,928,889

)

Total Class A Shares issued to former LGL shareholders

 

 

1,321,111

 

LGL Founders Shares

 

 

3,234,375

 

PIPE Shares

 

 

12,500,000

 

Number of Share issued at the Merger

 

 

17,055,486

 

Number of Shares issued (redeemed) following the consummation of the Merger

 

 

 

Earnout Shares

 

 

1,078,125

 

Private Warrants (Exercised)

 

 

3,188,229

 

Public Warrants (Exercised)

 

 

28,719

 

Payments on subscription notes receivable

 

 

(54,955

)

Shares repurchase related to loan pay-off

 

 

(107,521

)

Total Shares of Common Stock as of October 31, 2021

 

 

88,718,630