secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2025-01-16T23:59:59+00:00
Accession:  0001437749-25-001242
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BIO-key raises ~$3.8M via warrant exercise; exchanges $834K debt for equity
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- Exercised 2,061,112 existing warrants at $1.85/share, gross proceeds ~$3.8M before fees.
- Issued new Series A & B warrants for up to 1,545,834 shares each at $2.15, expiring in 5 years.
- Exchanged $834K of promissory note for 489,635 shares; note balance reduced to ~$738,400.
- Net proceeds to be used for working capital and partial repayment of secured note.
- Maxim Group acted as placement agent with 6.0% cash fee on gross proceeds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774925001242/0001437749-25-001242-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774925001242/bkyi20250116_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-001242

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