---
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"
generated_at: "2026-05-17T04:41:35.484699+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# BIO-key closes $1.13M secured note with Streeterville Capital, net $1M for working capital

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-030493
- JSON: https://secwatch.observer/filing/0001437749-25-030493.json
- Plain text: https://secwatch.observer/filing/0001437749-25-030493.txt

## Key facts
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1019034/000143774925030493/0001437749-25-030493-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.