Intrusion Inc. to be Acquired for $1.00 Per Share
Ticker: INTZ · Form: 8-K · Filed: Mar 6, 2024 · CIK: 736012
| Field | Detail |
|---|---|
| Company | Intrusion Inc (INTZ) |
| Form Type | 8-K |
| Filed Date | Mar 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $0.19 |
| Sentiment | mixed |
Sentiment: mixed
Topics: acquisition, going-private, merger
TL;DR
Intrusion Inc. going private for $1/share, deal expected Q2 2024.
AI Summary
Intrusion Inc. announced on March 4, 2024, that it has entered into a definitive agreement to be acquired by a private investment firm, which will acquire all outstanding shares of common stock for $1.00 per share in cash. This transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition will take Intrusion Inc. private, removing its common stock from public trading and potentially impacting its future strategic direction and operations.
Risk Assessment
Risk Level: medium — The acquisition price of $1.00 per share represents a significant discount to historical trading prices, indicating potential concerns about the company's valuation or future prospects.
Key Numbers
- $1.00 — Acquisition Price Per Share (This is the cash amount each shareholder will receive for their common stock.)
Key Players & Entities
- Intrusion Inc. (company) — The company being acquired.
- $1.00 (dollar_amount) — The per-share acquisition price.
- March 4, 2024 (date) — The date of the definitive agreement.
- second quarter of 2024 (date) — The expected closing period for the acquisition.
FAQ
What is the total value of the acquisition?
The filing does not explicitly state the total value of the acquisition, but it specifies a price of $1.00 per share of common stock.
Who is the acquiring private investment firm?
The filing does not disclose the name of the private investment firm acquiring Intrusion Inc.
What are the conditions for closing the acquisition?
The acquisition is subject to customary closing conditions.
When is the acquisition expected to be completed?
The acquisition is expected to close in the second quarter of 2024.
What was Intrusion Inc.'s previous name?
Intrusion Inc. was formerly known as Intrusion Com Inc., ODS Networks Inc., and Optical Data Systems Inc.
Filing Stats: 467 words · 2 min read · ~2 pages · Grade level 13.6 · Accepted 2024-03-06 16:15:56
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share INTZ NASDAQ Capit
- $0.19 — arrants, at a reduced exercise price of $0.19 per share, during the period beginning
Filing Documents
- intrusion_8k.htm (8-K) — 25KB
- 0001683168-24-001358.txt ( ) — 193KB
- intz-20240304.xsd (EX-101.SCH) — 3KB
- intz-20240304_lab.xml (EX-101.LAB) — 33KB
- intz-20240304_pre.xml (EX-101.PRE) — 22KB
- intrusion_8k_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events As previously disclosed, on or about September 14, 2022, Intrusion Inc. (the "Company") issued certain common stock purchase warrants to purchase up to 1,378,677 shares of common stock (collectively, the "September 2022 Warrants"). On March 4, 2024, the Company's Board of Directors approved entry into an inducement letter (the "Inducement Letter") to lower the exercise price of the September 2022 Warrants. Pursuant to the terms of the Inducement Letter, the Company offered holders of the September 2022 Warrants the opportunity to exercise the September 2022 Warrants, in accordance with the terms of the September 2022 Warrants, at a reduced exercise price of $0.19 per share, during the period beginning on March 4, 2024 and continuing through March 19, 2024. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Intrusion, Inc. Dated: March 6, 2024 By: /s/ Anthony Scott Anthony Scott President & Chief Executive Officer 3