Intrusion Inc. secures $7.5 million in direct offering

Intrusion Inc., established in Plano, Texas, provides a threat intelligence database and released its commercial product, Intrusion Shield, in 2021. This solution is designed to enhance security infrastructures by blocking malicious or suspicious internet traffic. Despite maintaining impressive gross profit margins of 78%, the company reported a net loss in the last twelve months, with analysts not anticipating profitability this year. Despite maintaining impressive gross profit margins of 78%, the company reported a net loss in the last twelve months, with analysts not anticipating profitability this year.

The offering is scheduled to close around Tuesday, with the company planning to allocate the net proceeds for general corporate purposes. These may cover debt repayment, working capital, capital expenditures, potential acquisitions, and other investments.

CEO Tony Scott expressed that the capital raised, alongside recent conversions of Preferred Series A stock and funds from ATM and SEPA programs, would sustain the company's operations through the fiscal year 2025 without the need for additional capital.

Intrusion Inc., established in Plano, Texas, provides a threat intelligence database and released its commercial product, Intrusion Shield, in 2021. This solution is designed to enhance security infrastructures by blocking malicious or suspicious internet traffic.

The shares in this offering are being sold pursuant to a registration statement filed with the Securities and Exchange Commission (SEC), with a prospectus supplement to be filed and made available on the SEC's website.

This press release, based on a company statement, does not constitute an offer to sell or a solicitation to buy the securities mentioned. It also notes that no sales will occur in jurisdictions where such actions would be unlawful before registration or qualification under the securities laws of those jurisdictions.

In other recent news, Intrusion Inc. has been active in its financial and capital structure developments. The company has executed a series of equity restructuring transactions with Streeterville Capital, LLC, swapping Series A Preferred Shares for common stock. This series of transactions was executed to align with Intrusion Inc.'s strategic financial objectives. The company also extended its Warrant Exercise Inducement Program through December 27, 2024, aiming to encourage the exercise of warrants issued on various dates.

Intrusion Inc. has also reported its second consecutive quarter of revenue growth, reaching $1.5 million, a 3% sequential increase. This growth is largely attributed to the company's Shield product line, which saw a 49% sequential revenue increase due to a new $2 million contract with the U.S. Department of Defense. Despite a slight decrease in consulting revenue and an overall net loss, the company's net loss improved from $3.2 million to $2.1 million year-over-year.

These are recent developments that highlight the ongoing efforts of Intrusion Inc. to manage its capital structure, stimulate growth, and provide value to its shareholders. The company's future expectations were not explicitly stated, but these actions suggest a focus on financial restructuring and revenue growth.

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