AI News Feed
Market watch
Oracle event puts focus on securing data at the source as agentic AI attacks escalateEngadget Outlines Quick Fixes to Improve Android Battery LifeAurora CFO Defends 2030 Goal of 30,000 Driverless Trucks as Shares SlideNvidia adds record $150B to buyback program, plans dividend increaseQuordle, NYT Strands and Connections Answers for Tuesday, September 29AMD Briefly Tops $1 Trillion Market Value; Cramer Says the Run Isn't Over
Oracle event puts focus on securing data at the source as agentic AI attacks escalateEngadget Outlines Quick Fixes to Improve Android Battery LifeAurora CFO Defends 2030 Goal of 30,000 Driverless Trucks as Shares SlideNvidia adds record $150B to buyback program, plans dividend increaseQuordle, NYT Strands and Connections Answers for Tuesday, September 29AMD Briefly Tops $1 Trillion Market Value; Cramer Says the Run Isn't Over
Companies

RedLattice to Go Public on Nasdaq in $1.25 Billion SPAC Merger

Defense cyber intelligence firm RedLattice will list on Nasdaq through a merger with Bold Eagle Acquisition Corp. at a $1.25 billion pre-money valuation, backed by $335 million in committed financing.

AI News Feed · 2026-09-29 08:39

If none of Bold Eagle's shareholders redeem their stock, the transaction could raise about $610 million. Of the $335 million already committed, $275 million takes the form of convertible notes that Loomis, Sayles & Co. LP has agreed to buy. The notes pay 4% a year and convert into stock at $12.50 a share. The remaining $60 million is a common stock purchase at $10 a share by affiliates of AE Industrial Partners LP and of Bold Eagle's sponsor, Eagle Equity Partners. The rest of the proceeds would come out of Bold Eagle's trust account.

Founded in 2012, RedLattice has more than 100 customers across 23 countries. Sales in the 12 months to June 30 came in at $267 million, up 29% year over year.

Eli Baker, Bold Eagle's chief executive, said RedLattice is "well positioned to capitalize on the growing need for integrated tech capabilities across the national security community."

Existing RedLattice shareholders are rolling 100% of their equity into the combined company, and AE Industrial will remain the largest shareholder. The private equity firm first bought into RedLattice in January 2023.

AE Industrial acquired Israeli spyware developer Paragon Solutions in December 2024 for a reported $500 million and folded it into RedLattice. Some of the SPAC proceeds will go toward refinancing debt and paying the final Paragon earnout.

Paragon's main product is Graphite, mobile spyware that can penetrate messaging apps on a target's phone. Meta Platforms Inc.'s WhatsApp said in January 2025 that about 90 of its users, including journalists and human rights workers, had been targeted with it. The University of Toronto's Citizen Lab later confirmed Graphite infections on the phones of two journalists in Europe. In the United States, Immigration and Customs Enforcement lifted a Biden-era stop-work order on its $2 million contract with Paragon in August 2025.

The deal is expected to close around the end of the year, subject to a Bold Eagle shareholder vote and the Securities and Exchange Commission declaring the registration statement effective. Shares of the combined company will trade under the ticker REDL.