BIO KEY INTERNATIONAL INC (BKYI) Form 8-K — Aug 13, 2026
BIO-key International entered into a warrant exercise agreement on August 10, 2026 with an existing institutional investor, identified in the warrant exhibit as Armistice Capital Master Fund Ltd., inducing it to cash-exercise all 618,334 of its outstanding warrants by cutting the exercise price from $10.20 to $4.06 per share. The exercise generated approximately $2.51 million in gross proceeds before fees. In exchange, the investor received new unregistered warrants to purchase 1,236,668 shares (200% warrant coverage) at $4.06, exercisable only after stockholder approval required under Nasdaq rules, with a five-year term running from that approval.
Key figures
- Gross Proceeds
- approximately $2.51 million
- New warrant term
- 5 years from stockholder approval
- Warrant coverage
- 200%
- New warrant shares
- 1236668
- Placement agent fee
- 5.0% of gross proceeds
- Reduced exercise price
- 4.06
- Existing warrant shares
- 618334
- Original exercise price
- 10.2
- Issuance restriction days
- 45
- Beneficial ownership limit
- 4.99%
- Stockholder meeting deadline days
- 120
- Variable rate transaction restriction days
- 90
- Resale registration effective deadline days
- 90
Price after filing
Close on the filing date to close N calendar days later (from $3.90). Historical, not a forecast.
AI analysis
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