secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2024-09-16T23:59:59+00:00
Accession:  0001437749-24-029307
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BIO-key raises ~$1.9M via warrant exercise; issues new warrants to investor
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- Investor immediately exercised 1,030,556 existing warrants at reduced price of $1.85/share.
- Gross proceeds approximately $1.9M before fees; net to fund working capital and repay secured debt.
- In consideration, investor received new Series A & B warrants for another 1,030,556 shares each at $1.85.
- New warrants are exercisable immediately and expire in 5 years; resale registration to be filed within 45 days.
- Maxim Group acted as exclusive placement agent, receiving 6% cash fee on gross proceeds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924029307/0001437749-24-029307-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924029307/bkyi20240912_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-029307

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