BIO KEY INTERNATIONAL INC 8-K

What Happened
BIO-key International, Inc. announced a 1-for-10 reverse stock split that became effective at 5:00 p.m. Eastern Time on April 29, 2026. The reverse split was approved by stockholders at a special meeting on April 20, 2026; the Board set the final ratio at 1-for-10 and filed a Certificate of Amendment with Delaware on April 28, 2026. The company filed this change in a Form 8-K dated April 29, 2026 and issued a press release on April 28, 2026.

Key Details

• Reverse split ratio: 1-for-10 (board-selected after shareholder approval).
• Effective time: 5:00 p.m. ET on April 29, 2026; Nasdaq trading will be split-adjusted beginning April 30, 2026.
• Outstanding shares: reduced from approximately 10,852,118 to approximately 1,085,212.
• New CUSIP: 09060C606.
• No fractional shares will be issued; any fractional share resulting from the split will be rounded up to the nearest whole share.
• The number of authorized shares and par value per share remain unchanged.

Why It Matters
A reverse stock split reduces the number of outstanding shares and increases the per-share price proportionally; shareholders’ percentage ownership remains the same in theory, but the split can affect trading liquidity and per-share metrics. For investors, note the effective date (Apr 29, 2026), the Nasdaq will show split-adjusted trading on Apr 30, and the company's shares will trade under a new CUSIP. The filing and press release provide the official corporate action details for record-keeping and any brokerage adjustments.