INTRUSION INC (INTZ) Form 8-K — Nov 2, 2026
Intrusion Inc. entered into an Exchange Agreement with lender Streeterville Capital on October 29, 2026, exchanging $4.0 million of partitioned promissory note principal for 4,000 shares of newly created Series B Preferred Stock with a $1,100 stated value per share. The Series B Preferred is non-voting and non-convertible but ranks senior to common stock, accrues a 10% annual preferred return, and carries escalating quarterly dividends of 2.5% (years 1-2) then 5% per quarter. The Certificate of Designations imposes restrictive covenants giving Streeterville consent rights over new debt, equity issuances, reverse splits (except Nasdaq compliance), asset sales, and fundamental transactions.
Key figures
- Debt Amount
- $4,000,000.00 aggregate principal exchanged ( $3,250,000 Note #1 Partitioned Note + $750,000 Note #2 Partitioned Note )
- Series b authorized
- 10000
- Preferred return rate
- 10% per annum
- Series b stated value
- $1,100.00 per share
- Series b shares issued
- 4000
- Note1 remaining balance
- $704,401.02
- Note2 remaining balance
- $884,267.86
- Nasdaq compliance period
- second 180-calendar-day extension requested
- Quarterly dividend year 2
- 2.5% per quarter
- Estimated stockholders equity
- >$5.0 million
- Quarterly dividend after year 2
- 5% per quarter
AI analysis
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