BIO-key closes $3.75M public offering; net $3.3M to repay debt and for working capital

BIO KEY INTERNATIONAL INC

Gross proceeds $3.75M from sale of 21.43M units at $0.175/unit; each unit comprises one share (or pre-funded warrant) and one 5-year warrant exercisable at $0.175.
Net proceeds approximately $3.3M after deducting placement agent fees and offering expenses.
Company intends net proceeds to repay up to $2.2M of outstanding debt and for general corporate and working capital.
Offering closed October 31, 2023; Maxim Group LLC acted as sole placement agent with a 7% cash fee.

item 1.01 item 7.01 item 9.01

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 entered into Purchase Agreement with certain investors (effective 2023-10-30).

Action: entry
Agreement: equity purchase
Counterparty: certain investors
Effective: 2023-10-30

Exact text from the filing

On October 30, 2023, BIO-key International, Inc. (the “ Company ”) entered into a securities purchase agreement (the “ Purchase Agreement ”) with certain investors in connection with a public offering of the Company’s securities (the “ Offering ”).

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

BIO KEY INTERNATIONAL INC entered into Placement Agency Agreement with Maxim Group LLC (effective 2023-10-30).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Effective: 2023-10-30

Exact text from the filing

On October 30, 2023, the Company entered into a placement agency agreement (the “ Placement Agency Agreement ”) with Maxim Group LLC to serve as its exclusive placement agent in connection with the Offering.

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119 material agreements filed in the last 30 days. Browse all material agreements →

BIO KEY INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001437749-23-029920

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