IronNet Furloughs Almost All Employees, Curtails Operations

Closure Comes Less Than Eight Weeks After C5 Capital Agreed to Take IronNet Private
IronNet's board authorized the company to furlough nearly all its workers and substantially curtail business operations as the board evaluates seeking bankruptcy protection. The furlough and cessation of business operations constitutes an event of default under the terms of the company's borrowing.

bankruptcy board business business operations c5 capital capital default employees event ironnet operations protection terms the company under workers