secwatch.observer — SEC 8-K summary
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Issuer:     INTRUSION INC (INTZ)
CIK:        0000736012
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001683168-23-007754
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/736012/000168316823007754/0001683168-23-007754-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/736012/000168316823007754/intrusion_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-007754

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