Intrusion swaps $4.0 million of debt for Series B preferred stock with Streeterville
Intrusion Inc. exchanged $4.0 million of secured promissory notes held by Streeterville Capital for 4,000 shares of newly designated Series B Preferred Stock, with no other consideration exchanged. The company said the exchange lifts its stockholders' equity above $5.0 million, which it believes allows it to request a second 180-day Nasdaq extension to regain compliance with the $1.00 minimum bid price, though Nasdaq may not grant it. The Series B shares carry a 10% annual preferred return and rank senior to common stock, and their protective covenants restrict the company's future debt and equity issuance.
Key points
- Notes of $3.25 million and $750,000, partitioned from April 6, 2026 and August 28, 2026 notes, were exchanged for 4,000 Series B shares with a $1,100 stated value each, cancelling $4.0 million of principal.
- Series B Preferred Stock is non-voting and non-convertible, accrues a 10% annual preferred return, and ranks senior to common stock on dividends and liquidation.
- Protective covenants bar the company from incurring debt, issuing equity, or completing reverse splits (other than for Nasdaq compliance) without majority Series B consent.
- The company believes it qualifies for a second 180-calendar-day Nasdaq extension, but states there can be no assurance Nasdaq will grant it.
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 02, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.