Intrusion announces $2.6M private placement

Intrusion announced that it had entered into a private placement subscription agreement pursuant to which Intrusion sold to purchasers in a Private Offering an aggregate of 1,348,569 shares of its common stock, each of which is coupled with a warrant to purchase two shares of common stock at an aggregate offering price of $1.95 per share. None of the shares of common stock or shares underlying the warrants have been registered for resale under the Securities Act of 1933 as amended. The Offering resulted in net proceeds to Intrusion of $2.6M. The company intends to use the net proceeds from the Offering for working capital and general corporate purposes.