SPAC L&F shareholders approve merger with cybersecurity firm ZeroFox (NYSE:LNFA)
SPAC L&F Acquisition (NYSE:LNFA) shareholders have voted in favor of a planned merger with cybersecurity firm ZeroFox (ZFOX).
L&F shareholders approved the deal on Tuesday. The merger also includes the acquisition of fellow cybersecurity group IDX.
Shares of L&F closed 35% higher at $14.40 on Tuesday, the last session before the vote was announced. The merger is expected to close on Wednesday, after which the shares will trade under the symbol ZFOX.
L&F shares recently changed hands at $12.46, down 14%, at approximately 10:15 a.m. ET.
L&F and ZeroFox announced plans to merger in December, with the equity value of the company pegged at around $1.4B, providing no redemptions. The combined company will focus on the lifecycle of external cybersecurity threats.
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