BIO-key enters deal for investor to exercise warrants at USD 4.06 per share, raising USD 2.5 million
BKYI•New warrants and resale registration planned
The company said it will issue unregistered New Warrants for 1,236,668 shares at $4.06, exercisable after required stockholder approval.
The New Warrants will run for five years from the stockholder approval date. BIO-key also plans to file a registration statement for resale shares issuable upon exercise of the New Warrants.
Warrant inducement deal to raise about $2.5 million
BIO-key entered a warrant inducement deal for an investor to exercise 618,334 warrants at $4.06 per share.
Gross proceeds are expected to be about $2.5 million, before fees and expenses.
