Bio-Key raises $3.75M, lands new government MFA client

Nasdaq-listed biometric authentication company BIO-key International announced on Tuesday the closing of its public offering of 21,430,000 units after reaching a public offering price of US$0.175. The digital authentication and ID firm put its gross proceeds at approximately US$3.75 million.

Each unit is made up of one common share, plus a warrant to purchase another share at the same price.

The warrants can be exercised immediately, and expire five years after issuance, the firm says in a release. There are …

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