McLean cybersecurity solutions firm Cycurion Inc. is going public early next year via a merger with the special purpose acquisition company Western Acquisition Ventures Corp.
Cycurion, which offers cybersecurity services to government and commercial clients, expects to raise about $113 million in the deal and intends to use the proceeds to acquire smaller companies and eventually triple its headcount.
The planned merger, announced Nov. 22., is coming at what has been a challenging time for SPACs, also known as blank-check companies, as market volatility and heightened scrutiny of the vehicles have made it difficult for many to find suitable merger partners.
Cycurion CEO Emmit McHenry said he opted to partner with New York-based Western Acquisition Ventures because he believes the SPAC’s executives share his vision for the company’s future.
“We’ve had other SPACs that have talked to us and we’ve said no,” McHenry said in an interview. “They had a couple people on the staff…
Read the full story from the Washington Business Journal.
