IronNet Emerges From Chapter 11

Paul, Weiss represented C5 Capital and ITC Global Advisers, as secured lenders, in the successful chapter 11 cases of IronNet, Inc., a global cybersecurity company. The restructuring plan, which was approved by the U.S. Bankruptcy Court for the District of Delaware, allows IronNet to reorganize its balance sheet and provides the company with up to $15 million in exit financing to fund go-forward operations. The transactions convert the company’s secured debt into nearly 90% of the reorganized company’s equity.

The Paul, Weiss team included restructuring partner Sean Mitchell; corporate partners Sarah Stasny, Raphael Russo and David Tarr, and counsel Adam Longenbach and Nathan Mitchell; tax partner Robert Holo; litigation partner John Carlin; intellectual property counsel Elana Bensoul; and international trade counsel Richard Elliott.