BIO-key issues $2.36M secured note to Streeterville Capital; net proceeds $2M for working capital

BIO KEY INTERNATIONAL INC

$2,360,000 principal senior secured note issued to Streeterville Capital; net proceeds $2,000,000 after OID and fees.
Interest at 9% per annum, 18-month term; exit fee of 7%; monthly redemptions of up to $270k starting month 6.
Secured by substantially all assets; subsidiary Pistol Star provides guarantee.
Mandatory prepayment of 40% from future fundraising (incl. warrant exercises).
Proceeds used for general working capital.

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