secwatch.observer — SEC 8-K summary
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Issuer:     BIO KEY INTERNATIONAL INC (BKYI)
CIK:        0001019034
Form:       8-K
Filed at:   2025-10-03T23:59:59+00:00
Accession:  0001437749-25-030493
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019034/000143774925030493/0001437749-25-030493-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019034/000143774925030493/bkyi20251003_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-030493

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