Intrusion Inc. Announces 1-for-20 Reverse Stock Split & Exchange Agreement of Debt to Preferred Stock [Yahoo! Finance]
Intrusion Inc. (INTZ)
US:NASDAQ Investor Relations:
intrusion.com/index.php?option=com_content&view=article&id=6&itemid=13
Company Research
Source: Yahoo! Finance
announced that following approval from stockholders at the Special Meeting of Stockholders on March 15, 2024, the Company intends to effectuate a 1-for-20 reverse stock split of its issued and outstanding shares of common stock, par value $0.01 per share. The Company also announced today that it has entered into an exchange agreement with Streeterville Capital, LLC to exchange an aggregate $9,275,000 in senior debt pursuant to notes issued in March and June of 2022 for a newly designated Series A Preferred Stock (the "Exchange Agreement"). The 1-for-20 reverse stock split and entry into the Exchange Agreement are part of the Company's plan to regain compliance with the minimum bid price requirement of $1.00 (the "Minimum Bid Price Requirement") and the equity standard for continued listing on the Nasdaq Capital Markets ("Nasdaq"). Reverse Stock Split Details: The Company expects that the reverse stock split will become effective on March 22, 2024, at 4:00 p.m., Eastern Time. As
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INTZ
Earnings
- 3/26/24 - Beat
INTZ
Sec Filings
- 4/25/24 - Form 4
- 4/25/24 - Form 4
- 4/23/24 - Form 8-K
- INTZ's page on the SEC website