INTRUSION INC — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 72/100
What the filing says
Intrusion Inc. exchanged $4.0M in partitioned secured promissory notes held by Streeterville Capital, LLC for 4,000 shares of newly designated Series B Preferred Stock (3,250 shares for $3.25M of Note #1; 750 shares for $750K of Note #2), effective October 29, 2026. The Series B stock carries a 10% annual preferred return, 2.5%-5% quarterly dividends, liquidation preference senior to common stock, and grants the holder (Streeterville) extensive protective covenants including consent rights over capital issuances, asset dispositions, and fundamental transactions. The remaining unpaid balance on the original notes ($704.4K on Note #1; $884.3K on Note #2) continues unchanged.
Why this rating
Exchange converts $4M debt to preferred equity with senior liquidation rights and 10% preferred return, materially diluting common equity and constraining future capital flexibility. Represents 9% of company market cap; preferred terms heavily favor Streeterville.
Price action (we called it negative)
before filing · preread $0.62 | at our read pending | +10 min pending | +30 min pending | +1 hr pending | +4 hrs pending |
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