BKYI - BIO-key International Announces Closing of $3.75 Million Public Offering | Benzinga
HOLMDEL, N.J., Oct. 31, 2023 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ:BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, today announced the closing of its previously announced public offering of 21,430,000 units, with each unit consisting of one share of common stock (or a pre-funded warrant in lieu thereof) and one warrant to purchase one share of common stock. Each unit was sold at a public offering price of $0.175. The warrants will be immediately exercisable at a price of $0.175 per share and will expire five years from the date of issuance. The shares of common stock (or pre-funded warrants in lieu thereof) and accompanying warrants could only be purchased together in the offering but were issued separately and were immediately separable upon issuance.
Gross proceeds, before deducting placement agent fees and estimated offering expenses, were approximately $3.75 million.
Maxim Group LLC acted as sole placement agent in connection with this offering.
The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-275003), which was declared effective by the Securities and Exchange Commission (the "SEC") on October 30, 2023. A final prospectus relating to the offering was filed with the SEC on October 31, 2023 and is available on the SEC's website at