BIO-key International Announces Pricing Of $3.75M Public Offering
Portfolio Pulse from Benzinga Newsdesk
BIO-key International, Inc. (NASDAQ:BKYI) has announced the pricing of its public offering of 21,430,000 units at $0.175 per unit, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock. The offering is expected to close on October 31, 2023, and is expected to generate gross proceeds of approximately $3.75 million.
October 30, 2023 | 6:24 pm
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BIO-key International's public offering could potentially dilute existing shareholders' equity, but it could also provide the company with additional capital for growth and expansion.
The public offering could dilute the value of existing shares, which may negatively impact the stock price in the short term. However, the additional capital raised could be used for growth and expansion, which could potentially have a positive impact on the stock price in the long term.
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