Key Takeaways
- REDLattice has agreed to combine with Bold Eagle Acquisition Corp. in a transaction expected to take the company public on Nasdaq under the ticker REDL.
- The transaction values REDLattice at a $1.25 billion pre-money enterprise value and could provide up to approximately $610 million in gross proceeds.
- REDLattice plans to use transaction proceeds for debt refinancing, acquisition-related payments, working capital, product expansion and potential future acquisitions.
REDLattice Agrees to Go Public Through Bold Eagle SPAC Deal at $1.25 Billion
REDLattice has agreed to combine with Bold Eagle Acquisition Corp. in a transaction that would take the U.S. defense technology company public on Nasdaq, marking a major corporate development for its cyber intelligence business.
REDLattice Announces Bold Eagle Business Combination
Under the definitive agreement announced September 28, 2026, REDLattice will combine with Bold Eagle Acquisition Corp., a publicly listed special purpose acquisition company. Following completion, the combined company is expected to trade on Nasdaq under the ticker symbol REDL.
The transaction values REDLattice at a $1.25 billion pre-money enterprise value. The companies expect the deal to close around year-end 2026, although completion remains subject to Bold Eagle shareholder approval, the effectiveness of a registration statement with the U.S. Securities and Exchange Commission, and other customary closing conditions.
Transaction Could Provide Up to $610 Million
The transaction is expected to provide up to approximately $610 million in gross proceeds. That includes $335 million of committed capital from new and existing institutional investors and up to approximately $275 million from Bold Eagle's trust account, assuming no redemptions.
The committed financing includes $275 million of convertible notes anchored by Loomis, Sayles & Co., featuring a 4% coupon and a fixed conversion price of $12.50. It also includes a $60 million common stock PIPE involving affiliates of existing investors AE Industrial Partners and Eagle Equity Partners.
REDLattice said proceeds will be used to refinance its existing debt and fund the final cash earnout payment connected with its previously completed acquisition of Paragon Solutions Ltd. Remaining funds are expected to support working capital, organic growth, product expansion and disciplined mergers and acquisitions.
Cyber Defense Business Supports Government Missions
Founded in 2012, REDLattice describes itself as a U.S.-owned global defense technology company serving intelligence, law enforcement and military organizations.
The company develops technologies focused on digital access, vulnerability research, intelligence collection and reconnaissance, along with AI-enhanced cyber research. REDLattice says its solutions are designed for high-risk and classified operational environments.
For the 12 months ended June 30, 2026, REDLattice reported $267 million in revenue, representing 29% year-over-year growth. The company also reported a $200 million contracted backlog and a $1.5 billion active pipeline as of June 30.
Management and Ownership Structure
REDLattice CEO Andy Boyd is expected to continue leading the combined company after the transaction closes. Boyd previously served as Director of the CIA's Center for Cyber Intelligence.
Existing REDLattice shareholders are expected to roll over 100% of their equity, while AE Industrial Partners is expected to remain the largest shareholder of the combined company.
TwikUp's Perspective
The planned listing gives REDLattice access to public-market capital while maintaining continuity in its existing management and ownership structure. The financing is also structured to address current financial obligations while leaving capital available for business expansion.
The company's reported revenue growth, backlog and pipeline provide investors with several operating metrics to assess as the transaction moves toward completion. However, the proposed Nasdaq listing remains subject to regulatory and shareholder approvals, meaning the transaction has not yet closed.
For REDLattice, the next important milestones will include the SEC registration process, shareholder approval and completion of the business combination expected around the end of 2026.