LNFA - ZeroFox to go public via a SPAC deal at $1.4 billion valuation

ZeroFox, a cybersecurity SaaS provider, plans to acquire IDX and become a publicly-traded company via a merger with L&F Acquisition Corp. (NYSE:LNFA). The combination of ZeroFox and IDX will create the only public company solely focused on addressing the entire lifecycle of external cyber threats and risks through the expansion of its AI platform. The anticipated equity value of the combined entities is ~$1.4 billion, assuming no redemptions, resulting in over $250 million of cash on the combined company’s balance sheet. The deal includes $170 million in financing led by Monarch Alternative Capital LP with participation from Victory Park Capital, Corbin Capital, and existing shareholders New Enterprise Associates, Highland Capital, Alsop Louie Partners, Blue Venture Fund, Peloton Equity, Forgepoint Capital and James C. Foster, Chairman and CEO of ZeroFox. Post-closing, the combined company will be renamed ZeroFox Holdings, Inc. and expects to be listed under the ticker symbol "ZFOX". The

For further details see:

ZeroFox to go public via a SPAC deal at $1.4 billion valuation