Bold Eagle Acquisition to Take Cyber Platform REDL Intermediate Public

08:58 AM EDT, 09/28/2026 (MT Newswires) -- Bold Eagle Acquisition (BEAG), a blank check firm, has signed a business combination agreement to take public cyber operations and intelligence platform REDL Intermediate, the companies said Monday. The deal gives REDL a pre-money enterprise value of $1.25 billion and is expected to provide up to nearly $610 million of gross proceeds, the companies said. The estimated proceeds comprise $335 million of committed capital from investors and up to roughly $275 million from Bold Eagle's trust account, assuming there are no redemptions, the companies said. The committed capital includes $275 million in convertible notes with a 4% coupon and a $12.50 fixed conversion price, and $60 million of common stock private investment in public equity priced at $10 per share, the companies said. Proceeds from the transaction will be used to refinance all of REDL's existing debt and to fund the final cash earnout payment from its acquisition of Paragon Solutions, they added. Following the closing of the deal, which the companies expect will occur near the end of 2026, REDL will trade on Nasdaq under the ticker symbol "REDL."