secwatch.observer — SEC 8-K summary
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Issuer:     INTRUSION INC (INTZ)
CIK:        0000736012
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001683168-24-001517
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 5.03, 5.07, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Intrusion announces 1-for-20 reverse split and $9.275M debt-to-preferred exchange
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- Reverse stock split at 1-for-20 ratio effective March 22; trading resumes March 25 under same ticker INTZ, new CUSIP 46121E 304.
- Split aims to regain Nasdaq $1.00 minimum bid price compliance; fractional shares rounded up.
- Exchanged $9.275M senior debt (Notes #2 and partitioned Note #1) with Streeterville Capital for 9,275 shares Series A Preferred.
- Series A has $1,100 stated value, 10% annual preferred return, quarterly dividends starting 2.5% per quarter after one year.
- Preferred shares are non-convertible, have liquidation preference over common, and no voting rights except on charter amendments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/736012/000168316824001517/0001683168-24-001517-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/736012/000168316824001517/intrusion_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-001517

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer