Deal funds investments in sales, marketing and research, development
By Devika Patel
Knoxville, Tenn., July 26 - BIO-Key International, Inc. said it completed a $1.05 million private placement of units.
The company sold units of one common share and one warrant at $0.30 per unit.
Each warrant is exercisable at $0.40 for five years. The strike price reflects a 33.33% premium to $0.30, the closing share price on July 25.
Proceeds will fund near-term investments in sales, marketing and research and development.
Based in Wall, N.J., BIO-Key develops finger-based biometric identification and security technologies.
| Issuer: | BIO-Key International, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1.05 million
|
| Price: | $0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.40
|
| Settlement date: | July 26
|
| Stock symbol: | OTCBB: BKYI
|
| Stock price: | $0.30 at close July 25
|
| Market capitalization: | $27.9 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
