BIO-key amends securities purchase agreement, waives defaults with AJB Capital

BIO KEY INTERNATIONAL INC

Amends Dec 2022 agreement: repurchase of up to 272k commitment shares if principal paid by July 22, 2023; up to 214k if paid by Aug 21, 2023, each for $1.00.
Waives events of default related to late filing of Q1 2023 Form 10-Q and failure to timely register shares; registration waiver expires July 30, 2023.
Original $2.2M note and 700k commitment shares issued in December 2022; amendment adjusts repurchase rights based on principal payment timing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BIO KEY INTERNATIONAL INC amended Waiver and Amendment No. 1 to Securities Purchase Agreement with AJB Capital Investments, LLC (effective 2023-06-22).

Action: amendment
Agreement: equity purchase
Counterparty: AJB Capital Investments, LLC
Effective: 2023-06-22

Exact text from the filing

On June 22, 2023, BIO-key International, Inc. (the “Company,” “we” or “us”) entered into a Waiver and Amendment No. 1 to Securities Purchase Agreement (the “Amendment”) with AJB Capital Investments, LLC (the “Investor”).

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BIO KEY INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001437749-23-018629

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