BIO-key Announces 1-for-10 Reverse Split to Regain Compliance, Reduce Shares to 1.1M
BIO-key will execute a 1-for-10 reverse stock split effective April 30, 2026, converting ~10.9 million outstanding shares into approximately 1.1 million shares. The board approved the move to meet Nasdaq’s minimum bid price requirement and support targeted profitability in the first half of 2026.
1. Reverse Stock Split Details
BIO-key’s board approved a 1-for-10 reverse stock split that will take effect at market open on April 30, 2026, consolidating every ten shares into one. Stockholders granted approval to give the company flexibility to adjust its share structure for regulatory compliance.
2. Share Count Reduction and Compliance
Prior to the split, BIO-key had approximately 10.9 million common shares issued and outstanding. Post-split, the share count will fall to roughly 1.1 million, positioning the company to meet Nasdaq’s minimum bid price requirement.
3. Growth Strategy and Profitability Goals
CEO Michael DePasquale stated the split ratio is designed to support the company’s growth objectives, with a focus on achieving profitability in the first half of 2026 through expanded deployment of its biometric identity and access management solutions.