secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2024-06-28T23:59:59+00:00
Accession:  0001437749-24-021599
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924021599/0001437749-24-021599-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924021599/bkyi20240626_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-021599

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