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INTRUSION Announces Nasdaq Uplisting & Pricing of 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, was approved for trading of its common stock on the Nasdaq Capital Market (“Nasdaq”) under the symbol “INTZ.” The pricing of the Company’s follow-on public offering of 3,100,000 shares of common stock is set at a price to the public of $8.00 per share, including 2,000,000 shares of common stock to be issued and sold by INTRUSION and 1,100,000 shares of common stock to be offered by the group of selling shareholders. Gross proceeds of the offering to INTRUSION, before deducting underwriting discounts, commissions and estimated offering expenses, are expected to be approximately $16,000,000. Net proceeds to INTRUSION are intended to fund several growth initiatives, including the commercialization of its new Shield plug and play, real-time artificial intelligence (AI), threat detection and neutralization solution designed for the enterprise market.\n\nINTRUSION has granted the underwriter a 30-day option to purchase up to 465,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions.\n\nB. Riley Securities is 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 is being made only by means of a prospectus. A copy of the final prospectus, when available, 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. INTR...