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IRNT IronNet

Filed: 27 Aug 21, 7:04am

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 26, 2021

 

 

IRONNET, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Delaware 001-39125 83-4599446
(State or other jurisdiction
of incorporation)
 (Commission
File Number)
 (I.R.S. Employer
Identification No.)

 

7900 Tysons One Place, Suite 400

McLean, VA

 22102
(address of principal executive offices) (zip code)

(443) 300-6761

(Registrant’s telephone number, including area code)

LGL Systems Acquisition Corp.

165 W. Liberty Street, Suite 220

Reno, NV 89501

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common stock, par value $0.0001 per share DFNS New York Stock Exchange
Redeemable warrants, exercisable for shares of common stock DFNS.WS New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Item 5.07 Submission of Matters to a Vote of Security Holders

On August 26, 2021, LGL Systems Acquisition Corp. (the “Company”) convened a special meeting of stockholders (the “Special Meeting”) held in connection with the Company’s previously announced business combination with IronNet Cybersecurity, Inc. (“IronNet”) and LGL Systems Merger Sub Inc. (“Merger Sub”) pursuant to the Agreement and Plan of Reorganization and Merger, dated as of March 15, 2021, and as amended by the Amendment No. 1 to Agreement and Plan of Reorganization and Merger, dated as of August 6, 2021 (the “Merger Agreement”) and the transactions contemplated thereby. Pursuant to the terms of the Merger Agreement, a business combination between the Company and IronNet was effected on August 26, 2021 through the merger of Merger Sub with and into IronNet, with IronNet surviving the merger as a wholly owned subsidiary of the Company, which has been renamed “IronNet, Inc.” Each proposal voted on at the Special Meeting is described in detail in the Company’s definitive proxy statement /prospectus filed with the U.S. Securities and Exchange Commission on August 6, 2021 and mailed to stockholders.

As of the close of business on July 19, 2021, the record date for the Special Meeting, there were an aggregate of 21,562,500 shares of Class A common stock, par value $0.0001 per share (the “Class A Stock”), and Class B common stock, par value $0.0001 per share (“Class B Stock” and, together with the Class A Stock, the “Common Stock”), outstanding, each of which was entitled to one vote with respect to each proposal. At the opening of the meeting, there were at least 12,265,305 shares of Class A Stock present in person or by proxy, which represented 71.10% of the shares of Class A Stock entitled to vote, and 4,312,500 shares of Class B Stock present in person or by proxy, which represented 100% of the shares of Class B Stock entitled to vote. Collectively, this constituted a quorum for the transaction of business.

The voting results for the proposals voted on at the Special Meeting are set forth below:

1.    The Business Combination Proposal - To approve and adopt the Merger Agreement and the transactions contemplated thereby.

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  11,319,535  944,520  1,250  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,632,035  944,520  1,250  N/A

2.    The Company Charter Proposals - To adopt amendments to the Company’s second amended and restated certificate of incorporation currently in effect in the form attached to the Merger Agreement.

2a. - Name Change Charter Amendment

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  11,312,535  951,520  1,250  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,625,035  951,520  1,250  N/A

2b. - Authorized Share Charter Amendment

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  11,267,449  972,307  25,549  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,579,949  972,307  25,549  N/A

2c. - Actions By Stockholders Charter Amendment

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  11,067,250  1,175,765  22,290  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,379,750  1,175,765  22,290  N/A

 

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2d. - Corporate Opportunity Charter Amendment

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  11,287,815  954,273  23,217  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,600,315  954,273  23,217  N/A

2e. - Voting Thresholds Charter Amendment

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  11,289,520  972,810  2,975  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,602,020  972,810  2,975  N/A

2f. - Additional Charter Amendment

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  11,309,606  946,119  9,580  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,622,106  946,119  9,580  N/A

3.    The NYSE Proposal - To approve, for purposes of complying with applicable listing rules of the New York Stock Exchange, the issuance of shares of the Company common stock pursuant to the Merger Agreement and the issuance of shares of the common stock in a private placement.

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  11,314,435  944,820  6,050  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,626,935  944,820  6,050  N/A

4.    The Director Election Proposal - To elect eleven directors to serve on the board of directors of the post-business combination company.

 

   FOR  WITHHOLD  BROKER
NON-VOTE

Donald R. Dixon

  15,614,150  963,655  N/A

Theodore E. Schlein

  15,621,445  956,360  N/A

André Pienaar

  15,624,043  953,762  N/A

Vadm. John M. McConnell (Ret.)

  15,614,050  963,755  N/A

Hon. Michael J. Rogers

  15,484,435  1,093,370  N/A

Gen. John M. Keane (Ret.)

  15,621,045  956,760  N/A

Robert “Rob” LaPenta Jr.

  15,613,748  964,057  N/A

Mary E. Gallagher

  15,494,537  1,083,268  N/A

William E. Welch

  15,620,950  956,855  N/A

Vadm. Jan E. Tighe (Ret.)

  15,622,163  955,642  N/A

Gen. Keith B. Alexander (Ret.)

  15,486,324  1,091,481  N/A

5.    The Incentive Plan Proposal - To approve the IronNet, Inc. 2021 Equity Incentive Plan.

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  10,863,583  1,361,297  40,425  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,176,083  1,361,297  40,425  N/A

 

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6.    The ESPP Proposal - To approve the IronNet, Inc. 2021 Employee Stock Purchase Plan.

 

Class

  

For

  

Against

  

Abstain

  

Broker Non-Votes

Class A Stock

  10,889,313  1,336,228  39,764  N/A

Class B Stock

  4,312,500  0  0  N/A

Total

  15,201,813  1,336,228  39,764  N/A

Item 7.01 Regulation FD Disclosure.

On August 26, 2021, the Company issued a press release announcing voting results relating to the Special Meeting and the closing of the business combination. A copy of the press release is being furnished herewith as Exhibit 99.1.

The information contained in this Current Report on Form 8-K pursuant to this Item 7.01, including the exhibits attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

 

 (d)

Exhibits. The following exhibits are filed with this Form 8-K:

 

Exhibit No.

  

Description of Exhibits

99.1  Press Release dated August 26, 2021.
104  Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  IRONNET, INC.
Date: August 26, 2021  By: 

/s/ James C. Gerber

  Name: James C. Gerber
  Title: Chief Financial Officer

 

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