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Stock impact report

Intrusion Inc. Announces Private Placement Subscription Agreement [Yahoo! Finance]

Intrusion Inc. (INTZ) 
Company Research Source: Yahoo! Finance
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 Show less Read more
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