Company: BKYI
Filing Date: 2025-11-21
Form Type: S-1
Source: 0001437749-25-036032
Chunk: 9

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-11-21
Form: S-1
Chunk 9
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 exercise of pre-funded warrants with an exercise price of $0.0018 per share;                      |
| ● | 732,548 shares of common stock reserved for future issuance under our Amended 2021 Employee Stock Purchase Plan;                              |
| ● | 575,569 shares of common stock reserved for future issuance under our Amended 2023 Stock Incentive Plan.                                      |

<div align='center'>RISK FACTORS</div>

Investing in our securities involves a high degree of risk. Before deciding to invest in our securities, you should consider carefully the risks and uncertainties described below and under Item 1A.“Risk Factors”in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission, or SEC, on April 23, 2025, which are incorporated by reference in this prospectus, together with all of the other information contained in this prospectus and documents incorporated by reference herein, and in any free writing prospectus that we have authorized for use in connection with this offering. If any of the matters discussed in the following risk factors were to occur, our business, financial condition, results of operations, cash flows or prospects could be materially adversely affected, the market price of our common stock could decline and you could lose all or part of your investment in our securities. Additional risks and uncertainties not presently known or which we consider immaterial as of the date hereof may also have an adverse effect on our business.

<div align='center'>RISKS RELATED TO THIS OFFERING</div>

Sales of a substantial number of shares of our common stock in the public market, including the shares offered under this prospectus, could lower our stock price and impair our ability to raise funds in new stock offerings.

If our stockholders sell substantial amounts of our common stock, the market price of our common stock could decrease. We had 10,836,618 shares of common stock outstanding as of November 13, 2025. Under this registration statement, we are registering the resale of 6,183,336 shares of common stock held by the selling stockholder, all of which are issuable upon exercise of the Warrants. Assuming full exercise of the Warrants, the shares offered hereunder would represent approximately 36% of our outstanding common stock following such exercise. In addition, we may sell additional shares of common stock in subsequent offerings.

We cannot predict the size of future issuances of common stock or the effect, if any