Intrusion Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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Item 1.01. Entry into a Material Definitive Agreement.
On April 6, 2026, Intrusion Inc. (the “Company”) entered into a Note Purchase Agreement (the “Purchase Agreement”) with Streeterville Capital, LLC (the “Investor”). Pursuant to the Purchase Agreement, the Company issued and sold to the Investor a Secured Promissory Note (the “Note”) in the original principal amount of $3,230,000 for cash proceeds of $3,000,000 (reflecting an original issue discount of $210,000 and $20,000 in transaction expenses).
The Note bears interest at 7% per annum, compounded daily, matures 24 months after issuance, and includes a monitoring fee provision after 90 days (which automatically increases the Outstanding Balance by approximately 17.65%). The Note is secured by a first-priority security interest in all of the Company’s assets and intellectual property pursuant to a Security Agreement and an Intellectual Property Security Agreement, each dated as of April 6, 2026.
The Purchase Agreement contains customary representations, warranties, and covenants, including requirements for timely SEC reporting, maintenance of listing on a national exchange, restrictions on variable-rate or other restricted securities issuances without the Investor’s consent, a most-favored-nation clause, and a 10% participation right for the Investor in future debt or equity financings. The Note also provides the Investor with monthly redemption rights of up to $250,000 beginning six months after issuance.
The foregoing description is qualified in its entirety by reference to the full text of the Purchase Agreement, the Note, the Security Agreement, and the Intellectual Property Security Agreement, copies of which are filed as exhibits to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 99.1 | Note Purchase Agreement with Exhibits, dated April 6, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| 2 |
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: April 9, 2026 | By: | /s/ Kimberly Pinson |
| Kimberly Pinson | ||
| Chief Financial Officer | ||
| 3 |