BIO KEY INTERNATIONAL INC (BKYI): debt financing — BIO-key closes $1.13M secured note with Streeterville Capital, net $1M for working capital

BIO KEY INTERNATIONAL INC

Issued $1.13M senior secured promissory note; net proceeds $1M after $125K OID and $5K transaction costs.
Interest 9% per annum; maturity 18 months from September 30, 2025.
Lender may redeem up to $135K monthly starting 6 months after issuance; exit fee 7% on any principal repaid.
Note secured by substantially all company assets; mandatory prepayment of 40% of proceeds from future financings.
Covenants include timely SEC filings and maintaining Nasdaq listing; events of default allow 22% interest and acceleration.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BIO KEY INTERNATIONAL INC incurred senior notes of $1,130,000 principal amount senior secured promissory note with Streeterville Capital, LLC at nine percent (9%) per annum maturing eighteen months following the date of issuance.

Instrument: senior notes
Principal: $1,130,000 principal amount senior secured promissory note
Counterparty: Streeterville Capital, LLC
Rate: nine percent (9%) per annum
Maturity: eighteen months following the date of issuance
Event: incurrence

Exact text from the filing

On September 30, 2025, BIO-key International, Inc. (the “Company,” “we” or “us”) entered into and closed a note purchase agreement (the “Purchase Agreement”) with Streeterville Capital, LLC, an existing lender of the Company (the “Lender”), which provided for the issuance of a $1,130,000 principal amount senior secured promissory note (the “Note”).

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BIO KEY INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001437749-25-030493

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