INTRUSION Announces Completion of Follow-on Public Offering
15 Outubro 2020 - 6:16PM
Business Wire
INTRUSION 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.
B. Riley Securities was 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 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 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/20201015006079/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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