INTRUSION Announces Nasdaq Uplisting & Pricing of Public Offering
09 Octobre 2020 - 2:30PM
Business Wire
INTRUSION 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.
INTRUSION 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.
B. Riley Securities is the sole book-running manager for the
offering.
A 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.
The 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
prospectuses@brileyfin.com.
About INTRUSION Inc.
INTRUSION 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, analyzing and reporting attacks or misuse of
classified, private and regulated information for government and
enterprise networks. For more information, please visit
www.intrusion.com.
Cautionary Statement Regarding Forward-Looking
Information
This release may contain certain forward-looking statements,
which reflect management's expectations regarding future events and
operating performance and speak only as of the date hereof. These
forward looking statements involve a number of risks and
uncertainties. Such statements include, without limitations,
statements regarding the results of the proposed public offering of
shares of the Company’s common stock, the expected use of the
proceeds from that offering, the potential uplisting to The Nasdaq
Stock Market and the anticipated benefits of such listing for the
Company and its shareholders, statements around our planned growth
initiatives, the introduction of the new INTRUSION Shield™
solution, as well as other statements. These statements are made
under the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 and involve risks and uncertainties
which could cause actual results to differ materially from those in
the forward looking statements. These factors include, without
limitation, uncertainties related to the success of the proposed
offering, the potential that the Company may not be able to list
its common stock on The Nasdaq Stock Market and achieve the
resulting benefits expected from such uplisting, or that the
Company’s planned growth strategies, including its new INTRUSION
Shield solution, may not achieve the marketplace acceptance
expected and result in increased revenue for the Company, and other
facts and circumstances that might cause actual results to differ
materially from current expectations, some of which are detailed in
the Company's most recent reports on Form 10-K and Form 10-Q,
particularly under the heading “Risk Factors.”
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version on businesswire.com: https://www.businesswire.com/news/home/20201009005105/en/
IR Contact Joel Achramowicz sheltonir@sheltongroup.com P:
415-845-9964
Company & Media Contact Julia Kramer
jkramer@intrusion.com P: 972-301-3635
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