secwatch.observer — SEC 8-K summary
======================================

Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2023-12-19T23:59:59+00:00
Accession:  0001437749-23-034827
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 3.03, 5.03, 5.02, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BIO-key approves 1-for-18 reverse stock split effective Dec 21 to regain Nasdaq minimum bid price compliance
--------------------------------------------------------------------------------

- Stockholders approved reverse split at ratio 1-for-6 to 1-for-20; Board set final ratio at 1-for-18.
- Reverse split effective 5:00 p.m. ET Dec 20; shares trade split-adjusted Dec 21 under new CUSIP 09060C507.
- Outstanding shares reduced from ~16.9M to ~941,000; no fractional shares issued, rounded up to nearest whole.
- Stockholders also approved 2023 Stock Incentive Plan authorizing up to 6M shares of common stock.
- CEO states reverse split positions stock for ongoing Nasdaq compliance as company executes growth goals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774923034827/0001437749-23-034827-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774923034827/bkyi20231218_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-034827

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer