IronNet Shutters Operations Following Lack of Additional Liquidity

Dow Jones2023-09-29

By Denny Jacob

IronNet shuttered its operations after considering strategic alternatives and being unable to acquire additional sources of liquidity.

The cybersecurity company said it ceased all activities and terminated remaining employees, according to a regulatory filing. The news comes just weeks after IronNet disclosed in an earlier filing this month that it would furlough most of its workers and explore options including bankruptcy reorganization or liquidation.

IronNet said it doesn't expect to pursue bankruptcy protection under Chapter 11, meaning it will be necessary to pursue bankruptcy protection under Chapter 7. It doesn't expect distributions to shareholders in a Chapter 7 liquidation, according to its latest filing.

IronNet was co-founded in 2014 by former National Security Agency director and retired Army Gen. Keith Alexander and other former intelligence and defense officials. Additional liquidity was sought given the state of its financials. The company posted losses in its last two fiscal years, $111 million for the year ended in January and $242.6 million the previous year.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

September 29, 2023 10:10 ET (14:10 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2371068129?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-09-29 22:10","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2371068129","market":"us","top_or_hot":-1,"title":"IronNet Shutters Operations Following Lack of Additional Liquidity","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Denny Jacob \n</p>\n<pre>\n \n</pre>\n<p>\n  IronNet shuttered its operations after considering strategic alternatives and being unable to acquire additional sources of liquidity. \n</p>\n<p>\n  The cybersecurity company said it ceased all activities and terminated remaining employees, according to a regulatory filing. The news comes just weeks after IronNet disclosed in an earlier filing this month that it would furlough most of its workers and explore options including bankruptcy reorganization or liquidation. \n</p>\n<p>\n  IronNet said it doesn't expect to pursue bankruptcy protection under Chapter 11, meaning it will be necessary to pursue bankruptcy protection under Chapter 7. It doesn't expect distributions to shareholders in a Chapter 7 liquidation, according to its latest filing. \n</p>\n<p>\n  IronNet was co-founded in 2014 by former National Security Agency director and retired Army Gen. Keith Alexander and other former intelligence and defense officials. Additional liquidity was sought given the state of its financials. The company posted losses in its last two fiscal years, $111 million for the year ended in January and $242.6 million the previous year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 29, 2023 10:10 ET (14:10 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IronNet Shutters Operations Following Lack of Additional Liquidity</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIronNet Shutters Operations Following Lack of Additional Liquidity\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-09-29 22:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Denny Jacob \n\n\n \n\n\n  IronNet shuttered its operations after considering strategic alternatives and being unable to acquire additional sources of liquidity. \n\n\n  The cybersecurity company said it ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4097","symbol_name":"系统软件","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2371068129","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2371068129","pubTimestamp":1695996600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"IronNet shuttered its operations after considering strategic alternatives and being unable to acquire additional sources of liquidity.The cybersecurity company said it ceased all activities and terminated remaining employees, according to a regulatory filing. The news comes just weeks after IronNet disclosed in an earlier filing this month that it would furlough most of its workers and explore options including bankruptcy reorganization or liquidation.IronNet said it doesn't expect to pursue bankruptcy protection under Chapter 11, meaning it will be necessary to pursue bankruptcy protection under Chapter 7. It doesn't expect distributions to shareholders in a Chapter 7 liquidation, according to its latest filing.IronNet was co-founded in 2014 by former National Security Agency director and retired Army Gen. Keith Alexander and other former intelligence and defense officials. Additional liquidity was sought given the state of its financials. The company posted losses in its last two fis","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4097":"系统软件"},"translate_title":"IronNet在缺乏额外流动资金后关闭业务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IRNT":0.9},"content_text":"By Denny Jacob \n\n\n \n\n\n  IronNet shuttered its operations after considering strategic alternatives and being unable to acquire additional sources of liquidity. \n\n\n  The cybersecurity company said it ceased all activities and terminated remaining employees, according to a regulatory filing. The news comes just weeks after IronNet disclosed in an earlier filing this month that it would furlough most of its workers and explore options including bankruptcy reorganization or liquidation. \n\n\n  IronNet said it doesn't expect to pursue bankruptcy protection under Chapter 11, meaning it will be necessary to pursue bankruptcy protection under Chapter 7. It doesn't expect distributions to shareholders in a Chapter 7 liquidation, according to its latest filing. \n\n\n  IronNet was co-founded in 2014 by former National Security Agency director and retired Army Gen. Keith Alexander and other former intelligence and defense officials. Additional liquidity was sought given the state of its financials. The company posted losses in its last two fiscal years, $111 million for the year ended in January and $242.6 million the previous year. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 29, 2023 10:10 ET (14:10 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2371068129"}