Intrusion, Inc. (INTZ) Provides an Update on its Balance Sheet

Improved balance sheet and financial flexibility positions the Company for future growth

Intrusion Inc. (NASDAQ: INTZ) today provided an update on recent actions taken that resulted in $14.5 million in proceeds to the Company and the elimination of $10.1 million notional value of all Series A Preferred Stock. These actions strengthen the Company's financial position and ensure that Intrusion has sufficient capital to fund its operations and eliminates the need for the Company to raise additional capital in calendar year 2025.

Recent Highlights:

• Received $0.3 million from the Company's Warrant Inducement Plan on December 27, 2024, through the exercise of 369 thousand warrants to purchase shares of the Company's common stock.

• Received $1.7 million from draws on the previously announced Standby Equity Purchase Agreement (SEPA) with Streeterville Capital, LLC.

• Sold approximately $5.0 million of common stock pursuant to the ATM program during the fourth quarter of 2024.

• Closed a registered direct offering on January 7, 2025, resulting in gross proceeds of approximately $7.5 million.

• Executed a series of transactions exchanging 9,025 shares of Series A Preferred Stock with a notional value of $9.9 million for 3,454 thousand shares of common stock.

As previously noted, the Company intends to use the net proceeds from these actions 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.

"We are well positioned going into 2025 with sufficient cash to fund our operations through 2025; very little debt, and no remaining Series A Preferred," said Tony Scott, CEO of Intrusion. "With this improved financial flexibility, we are now able to dedicate our full attention to expanding our customer base and advancing our journey towards sustainable growth and profitability."

You May Also Be Interested In

• Trump on war in Ukraine: Putin does feel pressure, end closer than people realize
• ProLogium files F-4 with SEC ahead of planned SPAC merger
• Medline leases 1.6M sq ft in NorCal after Tracy warehouse fire