Intrusion (NASDAQ: INTZ) Reports Unregistered Sales of Equity Securities

Intrusion Inc., a Delaware corporation, filed a Form 8-K with the Securities and Exchange Commission on November 18, 2024. The filing pertains to a privately-negotiated agreement between the company and Streeterville Capital, LLC, a Utah limited liability company. As per the agreement, dated November 18, 2024, Intrusion Inc. exchanged 68 shares of Series A Preferred Stock for 110,340 shares of the company’s common stock, valued at $74,800. This exchange was conducted based on the terms specified in an Exchange Agreement and falls under the exemption from registration requirements provided by Section 3(a)(9) of the Securities Act of 1933.

Furthermore, the document contained detailed information about the issuance of the Exchange Shares to Streeterville Capital, LLC, which were to be delivered via DWAC to the investor’s designated brokerage account. The Exchange Agreement highlighted the intent of both parties to fulfill the Exchange without additional considerations beyond the surrender of the Preferred Shares. It acknowledged the validity of the Exchange Shares, their issuance following necessary corporate actions, and addressed the representation that they do not constitute a novation or satisfaction of the Preferred Shares.

The filing also included standard boilerplate information regarding the venue, governing law, counterparts, attorneys’ fees, and assurances related to the transaction. Intrusion Inc.’s Chief Financial Officer, Kimberly Pinson, signed the document on behalf of the company as of November 22, 2024.

The attached Exhibit 99.1 to the filing contained the detailed terms and conditions of the Exchange Agreement entered into by Intrusion, Inc. and Streeterville Capital, LLC. This included specifics on the issuance and exchange of shares, closing procedures, holding periods, investor representations, governing law, and other pertinent clauses related to the transaction.

Overall, the 8-K filing provided transparent information about the unregistered sales of equity securities by Intrusion Inc. and the Exchange Agreement executed with Streeterville Capital, LLC.

For more details and a comprehensive review of the filing, interested parties can refer to the official document on the SEC’s website or Intrusion Inc.’s investor relations section.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Intrusion’s 8K filing here.

About Intrusion

Intrusion Inc, a cybersecurity company in the United States. The company offers its customers access to threat intelligence database, which contains the historical data, known associations, and reputational behavior of Internet Protocol addresses. It offers INTRUSION Shield, a zero trust reputation-based Software as a Service solution that inspects and kills dangerous network connections.