BIO-key International Enters Into $1.9M Warrant Inducement, The Investor Has Agreed To Exercise Outstanding Warrants To Purchase An Aggregate Of 1,030,556 Shares Of The Company's Common Stock At An Amended Exercise Price Of $1.85
Portfolio Pulse from Benzinga Newsdesk
BIO-key International has entered into a $1.9 million warrant inducement agreement with an institutional investor, who will exercise outstanding warrants to purchase 1,030,556 shares at $1.85 each. The transaction is expected to close by September 13, 2024.
September 12, 2024 | 5:19 pm
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BIO-key International has secured a $1.9 million investment through a warrant inducement agreement, which involves the exercise of warrants to purchase over 1 million shares at $1.85 each. This move could provide the company with additional capital and potentially impact its stock price.
The warrant inducement agreement provides BIO-key with immediate capital, which can be used for growth or operational needs. The exercise of warrants at $1.85 per share may also influence the stock price positively due to increased investor confidence and liquidity.
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