BIO-key repays $2.2M senior secured note, completes $550K private placement, eliminates long-term debt

BIO KEY INTERNATIONAL INC

Repaid $2.2M senior secured note held by AJB Capital Investments, eliminating all long-term debt.
Completed $550K private placement with Dillon Hill Investment: 872,502 shares, 2,270,335 pre-funded warrants, 4,714,285 common warrants at $0.175/unit.
Combined equity funding of $4.3M over past two months to strengthen cash and liquidity.
Revenue grew 39% to $8.6M over last four quarters; Q3'23 net loss reduced to $638K from $2.4M in Q3'22.
1-for-18 reverse stock split effective Dec 21, leaving ~1M shares outstanding and ~1.9M common stock equivalents.

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