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Intrusion Inc. announced a private placement subscription agreement, selling 1,348,569 shares of common stock with warrants at an aggregate price of $1.95 per share, resulting in net proceeds of $2.6 million. The company aims to use the funds for working capital and general corporate purposes. CEO Tony Scott highlighted the offering's significance in achieving Nasdaq compliance and supporting growth in cybersecurity solutions.
Intrusion Inc. ha annunciato un accordo di sottoscrizione per una collocazione privata, vendendo 1.348.569 azioni ordinarie con warrant a un prezzo complessivo di $1,95 per azione, ottenendo un ricavo netto di $2,6 milioni. L'azienda intende utilizzare i fondi per capitale circolante e scopi aziendali generali. Il CEO Tony Scott ha sottolineato l'importanza dell'offerta per raggiungere la conformità con il Nasdaq e supportare la crescita nelle soluzioni di cybersecurity.
Intrusion Inc. anunció un acuerdo de suscripción de colocación privada, vendiendo 1,348,569 acciones ordinarias con warrants a un precio agregado de $1.95 por acción, resultando en ingresos netos de $2.6 millones. La compañía tiene como objetivo utilizar los fondos para capital de trabajo y fines corporativos generales. El CEO Tony Scott destacó la importancia de la oferta para alcanzar el cumplimiento con Nasdaq y apoyar el crecimiento en soluciones de ciberseguridad.
Intrusion Inc.는 1액면 주당 $1.95의 금액으로 1,348,569주의 보통주를 워런트와 함께 사모 배치 구독 계약을 발표했습니다. 이로 인해 순수익 $2.6백만이 발생했습니다. 회사는 이 자금을 운영 자본과 일반 기업 목적으로 사용할 계획입니다. CEO 토니 스콧은 나스닥 준수 달성과 사이버 보안 솔루션 성장 지원에서의 이번 제안의 중요성을 강조했습니다.
Intrusion Inc. a annoncé un accord d'abonnement pour un placement privé, vendant 1 348 569 actions ordinaires avec des bons de souscription à un prix global de $1,95 par action, ce qui a résulté en un produit net de $2,6 millions. La société prévoit d'utiliser ces fonds pour le capital de roulement et des fins corporatives générales. Le PDG Tony Scott a souligné l'importance de l'offre pour atteindre la conformité avec le Nasdaq et soutenir la croissance dans les solutions de cybersécurité.
Intrusion Inc. kündigte eine private Platzierungszeichnungsvereinbarung an, wobei 1.348.569 Stammaktien zusammen mit Warrants zu einem Gesamtpreis von $1,95 pro Aktie verkauft wurden, was zu einem Nettogewinn von $2,6 Millionen führte. Das Unternehmen plant, die Mittel für Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. CEO Tony Scott betonte die Bedeutung des Angebots für die Erfüllung der Nasdaq-Anforderungen und die Unterstützung des Wachstums in Cybersicherheitslösungen.
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Insights
Intrusion Inc.'s decision to issue 1,348,569 shares at $1.95 per share, totaling $2.6 million in net proceeds, underscores the company's immediate need for capital to sustain its operations. The offering price reflects a valuation that investors need to scrutinize concerning the company's current market price and future prospects. The associated warrants, allowing purchase of additional shares, could lead to dilution of existing shareholders’ equity, which is a common concern in such transactions. However, the capital infusion might also lead to a stronger balance sheet, potentially making the company more attractive in the long run. Retail investors should monitor how these funds are allocated towards working capital and general corporate purposes, as effective use could enhance the company's competitive position in the cybersecurity market.
The cybersecurity landscape is rapidly evolving and companies like Intrusion Inc. are in a constant race to keep up with new threats and to innovate. The fresh capital from this private placement is pivotal for Intrusion to potentially expand its product offerings and improve existing solutions. Investors should consider how this financial maneuver positions Intrusion relative to its competitors and whether the investment in growth can lead to an increased market share. The focus should not only be on the immediate financial impact but also on the company's strategic initiatives to stay relevant in a sector where customer trust and technological edge are key drivers of success.
PLANO, TX / ACCESSWIRE / April 22, 2024 / Intrusion Inc. (NASDAQ:INTZ), a leader in cyberattack prevention solutions, today announced today that it had entered into a private placement subscription agreement pursuant to which Intrusion sold to purchasers in a Private Offering (the "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 $2.6 million. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.
"This Offering was the final step in our plan to achieve compliance with the Nasdaq minimum equity standard pursuant to listing rule 5550(b)(1)," said Tony Scott, CEO of Intrusion. "We are pleased to have the continued support of our long-term shareholders. The Offering also marks an important step for Intrusion as we continue to focus on ensuring we have the funds we need to propel our growth and focus on satisfying our customers' needs with cost-effective cybersecurity solutions for their enterprise."
About Intrusion Inc.
Intrusion Inc. is a cybersecurity company based in Plano, Texas. The Company offers its customers access to its exclusive threat intelligence database containing the historical data, known associations, and reputational behavior of over 8.5 billion IP addresses. After years of gathering global internet intelligence and working exclusively with government entities, the Company released its first commercial product in 2021. Intrusion Shield is designed to allow businesses to incorporate a Zero Trust, reputation-based security solution into their existing infrastructure. Intrusion Shield observes traffic flow and instantly blocks known malicious or unknown connections from both entering or exiting a network to help protect against Zero-Day and ransomware attacks. Incorporating Intrusion Shield into a network can elevate an organization's overall security posture by enhancing the performance and decision-making of other solutions in its cybersecurity architecture.
Cautionary Statement Regarding Forward-Looking Information
This release may contain certain forward-looking statements, including, without limitation, our expectations for positive results from our recent sales, marketing, and strategic initiatives, which statements reflect management's expectations regarding future events and operating performance. These forward-looking statements speak only as of the date hereof and involve a number of risks and uncertainties, including the risk that our recent sales, marketing, and strategic efforts will not result in increased product awareness or sales of our Intrusion Shield. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, the risk that this financing fails to provide the needed capital for the Company to execute its current business strategies, the Company does not achieve the anticipated results from its current sales, marketing, operational, and product development initiatives, as well as risks that we have detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."
IR Contact: Alpha IR Group Mike Cummings or Josh Carroll INTZ@alpha-ir.com Source: Intrusion Inc.
What did Intrusion Inc. announce regarding a private placement subscription agreement?
Intrusion Inc. announced a private placement subscription agreement, selling 1,348,569 shares of common stock with warrants at an aggregate price of $1.95 per share.
How much were the net proceeds from the Offering?
The Offering resulted in net proceeds of $2.6 million to Intrusion Inc.
What is the intended use of the net proceeds from the Offering?
The net proceeds from the Offering are intended for working capital and general corporate purposes.
Who commented on the Offering and its importance?
Tony Scott, the CEO of Intrusion, highlighted the significance of the Offering in achieving Nasdaq compliance and supporting growth in cybersecurity solutions.
