Company: BKYI
Filing Date: 2025-11-21
Form Type: S-1
Source: 0001437749-25-036032
Chunk: 13

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-11-21
Form: S-1
Chunk 13
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 The Warrants include a beneficial ownership limitation that prevents the selling stockholder from beneficially owning more than 4.99% of our outstanding common stock at any time.

The gross proceeds to us from the exercise of the Existing Warrants were approximately $3.1 million, prior to deducting placement agent fees and estimated offering expenses. Maxim Group LLC acted as the exclusive placement agent in connection with the Warrant Exercise Agreement and received a cash fee equal to 6.0% of the gross proceeds. The closing pursuant to the Warrant Exercise Agreement occurred on October 27, 2025. We intend to use the net proceeds for working capital and general corporate purposes, including repayment of a portion of our outstanding secured note.

<div align='center'>USE OF PROCEEDS</div>

The selling stockholder will receive all proceeds from the sale of the shares of common stock offered hereby. We will not receive any proceeds from the sale of common stock by the selling stockholder.

We will, however, receive cash proceeds equal to the exercise price of the Warrants. Accordingly, we may receive aggregate gross proceeds of $6,307,002.72 assuming that the Warrants are exercised in full at an exercise price of $1.02 per share. We expect to use any proceeds received by us from the exercise of the Warrants for working capital and general corporate purposes, including repayment of all or a portion of our outstanding secured note.

We will bear all costs, expenses and fees in connection with the registration of the shares, including, without limitation, all registration and filing fees and fees and expenses of our counsel and our accountants.

<div align='center'>DETERMINATION OF OFFERING PRICE</div>

The selling stockholder will offer common stock at the prevailing market prices or privately negotiated prices. The offering price of our common stock does not necessarily bear any relationship to our book value, assets, past operating results, financial condition or any other established criteria of value. Our common stock may not trade at the market prices in excess of the offering prices for common stock in any public market will be determined in the marketplace and may be influenced by many factors, including the depth and liquidity.

<div align='center'>7

SELLING STOCKHOLDER</div>

When we refer to the“selling stockholder”in this prospectus, we mean the persons or entities specifically identified in the table below, as well as the permitted transferees, pledges, donees, assignees, successors and other successors-in-interest who may subsequently hold any of