Intrusion raises ~$2.45M in securities offering; sells 4.36M shares and warrants at $0.60/unit

INTRUSION INC

Sold 4,359,374 shares and 2-for-1 warrants at $0.60 per share/warrant bundle, net proceeds ~$2.45M after fees.
Warrants exercisable at $0.60/share for 5 years; placement agent gets warrants for 87,187 shares at 125% of offer price.
Proceeds to fund working capital, general corporate, and potential partial repayment of Streeterville Capital debt.
Directors, officers, and certain 10% holders subject to 60-day lock-up on sale of company securities.
Company to file resale registration statement within 30-60 days; late filing penalties up to 10% of gross proceeds.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INTRUSION INC entered into Purchase Agreement with the purchasers identified on the signature pages to the purchase Agreement valued at aggregate offering price of $0.60 per share and warrant (effective 2023-11-08).

Action: entry
Agreement: equity purchase
Counterparty: the purchasers identified on the signature pages to the purchase Agreement
Value: aggregate offering price of $0.60 per share and warrant
Effective: 2023-11-08

Exact text from the filing

On November 8, 2023, Intrusion Inc. entered into a Securities Purchase Agreement (the “Purchase Agreement”) pursuant to which, among other things, the Company sold to the purchasers identified on the signature pages to the purchase Agreement (“Purchasers”), in a private offering (the “Offering”), an aggregate of 4,359,374 shares of its common stock (the “Shares”), each of which is coupled with a warrant to purchase two shares of common stock (the “Warrants”), at an aggregate offering price of $0.60 per share and warrant (the “Purchase Price”).

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197 material agreements filed in the last 30 days. Browse all material agreements →

INTRUSION INC filing history →

Source: SEC EDGAR

accession 0001683168-23-007754

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