Intrusion sells 4.36M shares at 60c in private offering

Intrusion announced on November 8, 2023, that it had entered into a Securities Purchase Agreement pursuant to which Intrusion sold to purchasers in a Private Offering, an aggregate of 4,359,374 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 $0.60 per share. The Offering resulted in net proceeds to Intrusion of $2.4 million. The Company intends to use the net proceeds from the Offering for working capital, general corporate purposes, and the potential partial repayment of outstanding indebtedness to Streeterville Capital, LLC. From Intrusion, CEO Tony Scott, CFO Kimberly Pinson, Chairman Anthony LeVecchio, Director Gregory Wilson, Director James Gero, and Director Katrinka McCallum all participated in the Private Offering. Wellington Shields & Co. LLC acted as the placement agent in the offering.