---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-035114"
form_type: "8-K"
ticker: "BKYI"
cik: "0001019034"
company_name: "BIO KEY INTERNATIONAL INC"
filed_at: "2023-12-21T23:59:59+00:00"
generated_at: "2026-06-07T08:40:34.866601+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-035114
- form_type: 8-K
- ticker: BKYI
- cik: 0001019034
- company_name: BIO KEY INTERNATIONAL INC
- filed_at: 2023-12-21T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019034/000143774923035114/0001437749-23-035114-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019034/000143774923035114/bkyi20231220_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-035114
- JSON: https://secwatch.observer/filing/0001437749-23-035114.json
- Plain text: https://secwatch.observer/filing/0001437749-23-035114.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.