{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-25-030493","form_type":"8-K","ticker":"BKYI","cik":"0001019034","company_name":"BIO KEY INTERNATIONAL INC","filed_at":"2025-10-03T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.553821+00:00","generated_at":"2026-05-17T04:41:35.484699+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"BIO-key closes $1.13M secured note with Streeterville Capital, net $1M for working capital","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-030493","json":"https://secwatch.observer/filing/0001437749-25-030493.json","markdown":"https://secwatch.observer/filing/0001437749-25-030493.md","text":"https://secwatch.observer/filing/0001437749-25-030493.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1019034/000143774925030493/0001437749-25-030493-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1019034/000143774925030493/bkyi20251003_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:41:35.484699+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"abf37fb57d4fb15b780541f2a0b25051fabd46d0","claim":"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.","evidence_excerpt":"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”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1019034/000143774925030493/0001437749-25-030493-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$1,130,000 principal amount senior secured promissory note"},{"label":"Counterparty","value":"Streeterville Capital, LLC"},{"label":"Rate","value":"nine percent (9%) per annum"},{"label":"Maturity","value":"eighteen months following the date of issuance"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}