secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2023-12-21T23:59:59+00:00
Accession:  0001437749-23-035114
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774923035114/0001437749-23-035114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774923035114/bkyi20231220_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-035114

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