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INTRUSION Announces Completion of Follow-on Public Offering
RICHARDSON, Texas--(BUSINESS WIRE)-- INTRUSION Inc. (NASDAQ: INTZ), a leading provider of entity identification, high speed data mining, cybercrime and
About this update from Intrusion Inc.
[{"type":"text","content":" RICHARDSON, Texas--(BUSINESS WIRE)--\nINTRUSION Inc. (NASDAQ: INTZ), a leading provider of entity identification, high speed data mining, cybercrime and advanced persistent threat detection services, announced the completion of its follow-on public offering of 3,565,000 shares of its common stock at a price to the public of $8.00 per share, including the full exercise of the underwriter’s option to purchase an additional 465,000 shares from INTRUSION. INTRUSION issued and sold 2,465,000 shares in the offering, and a group of selling shareholders sold 1,100,000 shares of INTRUSION common stock. Net proceeds to INTRUSION, after deducting underwriting discounts, commissions and estimated offering expenses, were approximately $18,339,600. INTRUSION intends to use the proceeds to fund several growth initiatives, including the commercialization of its new Shield™ plug-n-play, real-time artificial intelligence (AI), threat detection and neutralization solution designed for the enterprise market.\n\nB. Riley Securities was the sole book-running manager for the offering.\n\nA registration statement on Form S-1 (File No. 333-248398) relating to these securities was filed with the Securities and Exchange Commission on August 25, 2020 and was declared effective on October 8, 2020. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n\nThe offering was made only by means of a prospectus. A copy of the final prospectus may be obtained by contacting B. Riley Securities, Attention: Prospectus Department, 1300 17th St. North, Ste. 1300, Arlington, VA 22209, or by telephone at (703) 312-9580 or by email at [email protected].\n\nAbout INTRUSION Inc.\n\nINTRUSION Inc. is a global provider of entity identification, high speed data mining, cybercrime and advanced persistent threat detection solutions. INTRUSION’s solution families include TraceCop™ for identity discovery and disclosure, and Savant™ for network data mining and advanced persistent threat detection. INTRUSION’s solutions help protect critical information assets by quickly detecting, protecting, analyzi...