Intrusion raises $2.6M in private placement to regain Nasdaq equity compliance

INTRUSION INC

Sold 1,348,569 shares at $1.95 each, each with warrant to buy 2 shares at $1.70, raising $2.6M gross.
Net proceeds to be used for working capital and general corporate purposes.
CEO says offering is the final step to satisfy Nasdaq minimum equity standard (Rule 5550(b)(1)).
Shares and warrants not registered; no registration rights.

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 Subscription Agreements with the purchasers named therein valued at approximately $2.6 million (effective 2024-04-22).

Action: entry
Agreement: equity purchase
Counterparty: the purchasers named therein
Value: approximately $2.6 million
Effective: 2024-04-22

Exact text from the filing

On April 22, 2024, Intrusion Inc., a Delaware corporation (the “Company”), entered into private placement subscription agreements (“Subscription Agreements”) with the purchasers named therein (the “Purchasers”) (the “Offering”) pursuant to which the Company agreed to sell an aggregate of 1,348,569 shares of the Company’s common stock

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

INTRUSION INC filing history →

Source: SEC EDGAR

accession 0001683168-24-002590

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