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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K Annual Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 For the year ended December 31 , 2020 Commission File Number 001-39125 Delaware ( State or Other Jurisdiction of Incorporation ) Title of Each Class LGL SYSTEMS ACQUISITION CORP . ( Exact name of registrant as specified in its charter ) 165 W. Liberty St. , Suite 220 Reno , NV ( Address of principal executive offices ) Units , each consisting of one share of Class A common stock and one - half of one redeemable warrant Class A common stock , $ 0.0001 per share Redeemable warrants , exercisable for shares of Class A common stock at an exercise price of $ 11.50 per share Large accelerated filer Non - accelerated filer > Trading Symbol ( s ) ( 775 ) 393-9113 ( Issuer's Telephone Number , Including Area Code ) Securities registered pursuant to Section 12 ( b ) of the Act : DFNS.U DFNS DFNS WS 83-4599446 ( I.R.S. Employer Identification No. ) 89501 ( zip code ) Name of Each Exchange on Which Registered Accelerated filer Smaller reporting company Emerging growth company The New York Stock Exchange Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 ( d ) of the Exchange Act . Yes No Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Exchange Act of 1934 during the past 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirement for the past 90 days . Yes No The New York Stock Exchange The New York Stock Exchange Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes > No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or emerging growth company . See the definitions of “ large accelerated filer , " " accelerated filer , ” “ smaller reporting company , ” and " emerging growth company " in Rule 12b - 2 of the Exchange Act . If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report Ind cate by check ma whether the registrant is a shell company ( as defined Rule 12b - 2 of Exchange Act ) . Yes No As of June 30 , 2020 ( the last business day of the registrant's most recently completed second fiscal quarter ) , the aggregate market value of the ordinary shares held by non - affiliates of the registrant was $ 171,035,475 ( based on the closing sales price of the ordinary shares on