IronNet, Inc. Annual report pursuant to Section 13 and 15(d)

Reverse Recapitalization (Tables)

12 Months Ended

Jan. 31, 2022

The following table reconciles the elements of the Merger to the consolidated statement of cash flows for the year ended January 31, 2022:


	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

The number of outstanding shares of common stock of the Company as of January 31, 2022 is summarized as follows:


Shares by Type	Number of Shares
IronNet Class A Common Stock outstanding previous to the Merger		67,502
Issuance of common stock (exercise of ISOs and warrant)		29
Number of Shares issued at the date of the business combination (Recapitalization)
LGL Class A Common Stock outstanding previous to the Merger		17,250
Less: Redemption of LGL Class A previous to the Merger		(15,929	)
Total Class A Shares issued to former LGL shareholders		1,321
LGL Founders Shares		3,234
PIPE Shares		12,500
Number of Share issued at the Merger		17,055
Number of Shares issued (redeemed) following the consummation of the Merger
Earnout Shares		1,078
Private Warrants (Exercised)		3,188
Public Warrants (Exercised)		29
Exercise of ISOs		158
Payments on subscription notes receivable		(55	)
Shares repurchase related to loan pay-off		(108	)
Total Shares of Common Stock as of January 31, 2022		88,876