secwatch.observer — SEC 8-K summary
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Issuer:     INTRUSION INC (INTZ)
CIK:        0000736012
Form:       8-K
Filed at:   2024-04-05T23:59:59+00:00
Accession:  0001683168-24-002129
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Intrusion settles derivative suit, exchanges preferred, reprices warrants
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- Court approved derivative lawsuit settlement on Apr 3; insurer pays $250K; governance changes for 3 years.
- Exchanged 91 Series A Preferred shares for 32,248 common shares valued at $100,100 with Streeterville.
- Board approved lowering exercise price of 1,212,593 Sep 2022 and 8,718,748 Nov 2023 warrants to $3.04.
- New warrants at $2.91 exercise price with 5-year term offered to exercising holders during Apr 2-23 window.
- Up to ~9.93M common shares issuable if all warrants exercised; potential cash inflow from exercises.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/736012/000168316824002129/0001683168-24-002129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/736012/000168316824002129/intrusion_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-002129

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