UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events
As previously disclosed, on or about November 8, 2023, Intrusion Inc. (the “Company”) issued certain common stock purchase warrants to purchase up to 8,718,748 shares of common stock (collectively, the “November 2023 Warrants”). On March 11, 2024, the Company’s Board of Directors approved entry into an inducement letter (the “Inducement Letter”) to lower the exercise price of the November 2023 Warrants. Pursuant to the terms of the Inducement Letter and subject to Nasdaq approval, the Company informed holders of the November 2023 Warrants about the opportunity to exercise the November 2023 Warrants, in accordance with the terms of the November 2023 Warrants, at a reduced exercise price of $0.20 per share (the “Exercise Price”), during the period beginning on March 11, 2024 and continuing through March 29, 2024. The Exercise Price represented the current Minimum Price or the Consolidated Closing Bid Price for insider participation as of March 11, 2024. On March 21, 2024, the Company received Nasdaq approval of the Exercise Price based on a change of circumstances since the issuance of the November 2023 Warrants.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Intrusion, Inc. | ||
| Dated: March 22, 2024 | By: | /s/ Kimberly Pinson |
| Kimberly Pinson | ||
| Chief Financial Officer | ||
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