💥New Chapter 11 Bankruptcy Filing - IronNet Inc. (Case Roster)💥

Cybersecurity Company Files to Pursue Sale in Bankruptcy

Look at this ⬇️ chart:

Anyone want to guess what the background is given the $10/share entry point? 🙄🖕

On October 12, 2023, VA-based IronNet Inc. and four affiliates (together, the "debtors") filed chapter 11 bankruptcy cases in the District of Delaware (Judge Shannon). Founded by Amazon Inc. ($AMZN) director and former head of US Cyber Command, Retired General Keith Alexander, the debtors operate in the cybersecurity space, specifically the “Network Detection and Response” category; their main offering is the “Collective Defense Platform” which is meant to identify, intercept and neutralize advanced cyber-attacks, and is comprised of (i) two legacy parts, the IronDefense and the … gulp … IronDome (😳) … and (ii) one recent new product, the IronRadar. Query whether the IronRadar picked up a “bankruptcy reading” a mere two years after the deSPAC transaction?