BIO-key announces 1-for-18 reverse stock split

BIO-key International has approved a 1-for-18 reverse stock split that will become effective with the commencement of trading on December 21, 2023.BIO-key stockholders approved a proposal last week to allow the Board to proceed with a reverse split to assist the Company in its effort to regain compliance with the minimum bid price requirement. BIO-key had approximately 16.9 million shares of common stock issued and outstanding as of December 19, 2023. After giving effect to the 1-for-18 reverse stock split, BIO-key will have approximately 941,000 shares of common stock issued and outstanding.