secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2024-12-03T23:59:59+00:00
Accession:  0001437749-24-036582
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BIO-key swaps 19% equity stake for $5M Boumarang shares to regain Nasdaq compliance
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- Exchanged 595,000 shares (19% of outstanding) for 5M Boumarang shares valued at $5M ($1/share).
- Transaction increased stockholders' equity by $5M, above Nasdaq's $2.5M minimum requirement.
- Nasdaq approved compliance plan in Aug. 2024; this deal aims to satisfy the equity requirement.
- Boumarang shares valued at $1 each based on due diligence; no public market disclosed.
- Nasdaq will continue monitoring; delisting risk remains if equity drops below minimum at next report.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924036582/0001437749-24-036582-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774924036582/bkyi20241203_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-036582

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