Intrusion Inc. to be Acquired by Monomoy Capital Partners

TL;DR

Intrusion Inc. is getting bought by Monomoy Capital Partners, deal expected Q1 2025.

AI Summary

Intrusion Inc. announced on November 21, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Monomoy Capital Partners. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions. Intrusion Inc. is a cybersecurity company.

Why It Matters

This acquisition by Monomoy Capital Partners signifies a change in ownership for Intrusion Inc., potentially impacting its strategic direction and operations in the cybersecurity market.

Risk Assessment

Risk Level: medium — The acquisition is subject to closing conditions, and there's always a risk that such deals may not be completed.

Key Players & Entities

• Intrusion Inc. (company) — Company being acquired
• Monomoy Capital Partners (company) — Acquiring entity
• November 21, 2024 (date) — Date of definitive agreement
• first quarter of 2025 (date) — Expected closing period

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share INTZ NASDAQ Capit
• $0.76 — duced exercise price of the Warrants is $0.76 per share, which includes $0.13 per sha
• $0.13 — ants is $0.76 per share, which includes $0.13 per share that is attributable to the p
• $0.63 — he New Warrant has an exercise price of $0.63 per share with an exercise period of fi

Filing Documents

• intrusion_8k.htm (8-K) — 25KB
• 0001683168-24-008428.txt ( ) — 194KB
• intz-20241121.xsd (EX-101.SCH) — 3KB
• intz-20241121_lab.xml (EX-101.LAB) — 33KB
• intz-20241121_pre.xml (EX-101.PRE) — 22KB
• intrusion_8k_htm.xml (XML) — 4KB

01

ITEM 8.01. Other Events. On November 21, 2024, the Company's Board of Directors approved entry into an inducement letter that provides, during the period beginning on November 21, 2024 and continuing through December 19, 2024, for the lowering of the exercise price of the Warrants (as defined below) and, for each share of common stock exercised under the Warrants, providing the participating holder with a new warrant (the "New Warrant") for that same number of shares of common stock. The reduced exercise price of the Warrants is $0.76 per share, which includes $0.13 per share that is attributable to the purchase price of the New Warrant. The New Warrant has an exercise price of $0.63 per share with an exercise period of five years. The total aggregate number of shares of common stock underlying the Warrants is equal to 3,198,082 shares. The "Warrants" consist of those certain common stock purchase warrants to purchase (i) up to 52,482 shares of our common stock, originally issued on or around September 14, 2022, (ii) up to 261,968 shares of our common stock, originally issued on or around November 8, 2023, (iii) up to 186,496 shares of our common stock, originally issued on or around April 2, 2024, and (iv) up to 2,697,136 shares of our common stock, originally issued on or around April 22, 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: November 27, 2024 By: /s/ Kimberly Pinson Kimberly Pinson Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR