BIO-key Secures Funding Boost with Warrant Exercise Deal

The latest update is out from BIO-key International ( (BKYI) ).

BIO-key International, Inc. has struck a deal with an existing investor to expedite the exercise of previously issued warrants, resulting in the issue of new warrants and a reduced exercise price, generating approximately $1.9 million before fees and expenses. The transaction, facilitated by Maxim Group LLC as the exclusive placement agent, is aimed at bolstering the company’s working capital and funding general corporate needs, including debt repayment. The newly issued warrants are immediately exercisable and come with a five-year expiration, adding a beneficial ownership cap of 4.99% for the investor.

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