Company: BKYI
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001437749-25-016136
Chunk: 10

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-05-12
Form: 424B3
Chunk 10
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1,545,834 shares of common stock issuable upon exercise of the Series A Warrants, and 1,545,834 shares of common stock issuable upon exercise of the Series B Warrants. This prospectus also covers any additional shares of our common stock that we may issue or that may be issuable by reason of any stock split, stock dividend or similar transaction involving our common stock. The selling stockholder may sell the shares covered by this prospectus through public or private transactions at prevailing market prices or at privately negotiated prices. We will not receive any proceeds from this offering. If all warrants exercisable for shares of common stock offered hereby are exercised, we will receive aggregate gross proceeds of $6,647,086.20.

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On January 15, 2025, we entered into a warrant exercise agreement (the “Warrant Exercise Agreement”) with the selling stockholder to exercise certain outstanding warrants to purchase an aggregate of 2,061,112 shares of the Company’s common stock at an exercise price of $1.85 per share, which were originally issued to the Investor on September 13, 2024 (the “Existing Warrants”). The issuance of the shares of the Company’s common stock underlying the Existing Warrants was registered pursuant to the registration statement on Form S-1 filed on October 11, 2024 (File No. 333-282618).

In consideration for the exercise of the Existing Warrants, subject to compliance with the beneficial ownership limitations included in the Existing Warrants, the selling stockholder received new unregistered Series A warrants to purchase up to an aggregate of 1,545,834 shares of the Company’s common stock (the “Series A Warrants”) and new unregistered Series B warrants to purchase up to an aggregate of 1,545,834 shares of the Company’s common stock (the “Series B Warrants”, and together with the “Series A Warrants, the “New Warrants”).

The New Warrants have substantially the same terms, were immediately exercisable at an exercise price of $2.15 per share and will expire five years from the date of issuance. The Company agreed to file a resale registration statement covering the public resale of the shares of the Company’s common stock issuable upon exercise of the New Warrants with the SEC, and to use commercially reasonable efforts to have such resale registration statement declared effective by the SEC within 90 calendar days following the date of the Warrant Exercise Agreement.