LGL Group Approves Spin-Off of MTronPTI and Holds Shares of IronNet via DFNS SPAC Investment

October 1, 2021

LGL Group, Inc. announced that its board approved a spin-off of its MTronPTI subsidiary, to be submitted to a shareholder vote. In connection with its prior SPAC investment through LGL Systems Acquisition Holding Company, LLC. (DFNS sponsor), LGL received and distributed IronNet (IRNT) shares to shareholders as part of the business combination with IronNet.

Buyers
LGL Systems Acquisition Holding Company, LLC. (DFNS sponsor)
Targets
MTronPTI subsidiary, IronNet
Platforms
LGL Systems Acquisition Holding Company, LLC.
Industry
Cybersecurity
Location
Florida, United States
Transaction Type
Divestiture

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