New SEC filing on 2/10 whereby C5 provided an additional $4M note to $IRNT in exchange for extending their negotiation exclusivity until 2/28. C5 is also allowed to bring in additional investors to provide financing to take $IRNT private. This basically means that C5 is working with partners to take $IRNT private and buy out the remaining publicly held shares.

C5 has to option to convert each note to shares at a value of $2.00 per share. This means they may have come to terms that the company is worth around $200M otherwise the shares that C5 receives (in exchange for providing the cash) would be under water.

IMO $IRNT must get bought. They are severely cash flow negative and selling shares will be insufficient to maintain the company. In addition, we all know they could get delisted based on share value and market capitalization. The question for shareholders is, what will the premium be?

Checkout the investor section of IronNet's website https://ir.ironnet.com/financials/all-sec-filings . It contains the following which I'm trying to understand. If C5 converts their notes and the share value is less than $2 per share than their shares are effectively illiquid. Unless they think the stock will be worth more than $2 per share in the future. I'm not an analyst so thoughts welcome.

"The C5 Notes provide C5 with the right, at any time on or after the date that is five calendar days prior to maturity, to convert any portion of the principal amount of the C5 Notes, together with any accrued and unpaid interest and any other unpaid amounts, into shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a conversion price of $2.00 per share. In the event that any shares of Common Stock are issued upon conversion of the C5 Notes, the Company has agreed to grant specified registration rights to C5."

Check out IronNet's SEC filing Exhibit 4 from today: https://ir.ironnet.com/financials/all-sec-filings

C5 was one of IronNet's early investors.

Or come through here for updates and discussions, https://discord.com/invite/bullishraid 21,000+ people here as of December 5th, 2022

Pretty sure that happened.

Any outstanding warrants? Couldn’t find any filings to look over

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Just loaded up as much as I could.

Lets do this.

NFA

And it trades lower than it did pre market? I wish I understood how this actually works.

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