Intrusion, Inc. (INTZ) Prices $7.5M Share Offering at $3.05/sh

Intrusion Inc. (NASDAQ: INTZ) (the "Company"), a leader in cyberattack prevention solutions, today announced that it has entered into a definitive agreement with a single institutional investor for the purchase and sale of 653,000 shares of common stock at a purchase price of $3.05 per share and 1,806,016 prefunded warrants to purchase up to 1,806,016 shares of common stock at a purchase price of $3.0499 per prefunded warrant in a privately negotiated registered direct offering. The prefunded warrants are immediately exercisable at an exercise price of $0.0001 per share of common stock. Aggregate gross proceeds to the Company are expected to be approximately $7.5 million. The transaction is expected to close on or about January 7, 2025.

The Company intends to use the net proceeds for general corporate purposes, which may include, but is not limited to, the repayment of existing indebtedness, working capital, capital expenditures, acquisitions and other investments.

"This transaction, coupled with the actions we have taken over the past several days to convert all of the Preferred Series A stock belonging to a single institutional investor to common stock and the funds raised from our ATM program and SEPA arrangements, ensures that Intrusion has sufficient capital to fund its operations through fiscal year 2025 and beyond, and eliminates the need to raise additional capital in 2025," said Tony Scott, CEO of Intrusion.

Anthony, Linder & Cacomanolis, PLLC is acting as U.S securities counsel to the Company.

The shares described above are being sold by Intrusion Inc. pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission. A prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described therein, nor shall there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

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