M&A
confidence high
sentiment positive
materiality 0.80
Bold Eagle SPAC to merge with REDLattice in $1.25B cyber intelligence deal at $10/share
Bold Eagle Acquisition Corp.
- Bold Eagle to merge with REDLattice, a cyber intelligence software provider to government, intelligence and defense customers; base Equity Value $1.25B at $10.00/share.
- Deal conditions include ≥$100M minimum aggregate cash from trust/PIPE common stock and >$250M from PIPE convertible notes; parties to seek more financing during interim period.
- Sponsor's 2,035,000 earn-out shares vest in three tranches: 767,500 at $12.50, 767,500 at $15.00 and 500,000 at $17.50, each over 20 trading days in 30, within a 5-year period.
- PubCo board to have 9 directors: 6 REDLattice designees (2 independent), REDLattice CEO, 1 Sponsor-nominated independent and 1 mutually agreed; REDLattice officers become PubCo officers.
- Outside Closing Date is 9 months after signing; REDLattice may terminate if committed common cash <$100M at 8 months or PIPE convertible-note cash not expected to exceed $250M.