INTRUSION INC — Form 8-K
Filed August 28, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Intrusion Inc. issued a $1,615,000 Secured Promissory Note to Streeterville Capital, LLC (Utah LLC) dated August 28, 2026, with a purchase price of $1,500,000 (note includes $105,000 OID and $10,000 transaction expense, both included in stated principal). The note carries 7% annual interest, matures in 24 months, is secured by all company assets and IP, and guaranteed by subsidiary OW Cyber, LLC. Lender has redemption rights ($150K/month starting month 6), participation rights in future financings (10%), and extensive anti-dilution and control covenants.
Why this rating
Material dilutive financing (~3.4% of $43.8M market cap) with punitive terms: 15% trigger fees, $176K monitoring fee at 90 days, restrictive covenants, and lender veto over future capital raises. Negative structure signals distress; reasonable for small cap but not transformational.
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