BIO-key International Inc: enters exchange agreements with lender

What happened The filing says BIO-key International Inc entered into four separate Exchange Agreements with Streeterville Capital, LLC on Sep 29, 2026. The agreements partitioned $416,315.80 from a Secured Promissory Note dated Sep 30, 2025 (original principal $1,130,000) into four new promissory notes and exchanged those partitioned notes for an aggregate of 247,805 shares of the company’s common stock. As a result, the filing says the Original Note has been paid in full.

Key details

• Original Note: Secured Promissory Note dated Sep 30, 2025, original principal $1,130,000.
• Partitioned notes: $68,315.80, $116,000, $117,000, and $115,000 (aggregate $416,315.80).
• Exchange consideration: the four Partitioned Notes were exchanged for an aggregate of 247,805 shares of common stock.
• Date of agreements: Sep 29, 2026.

Why it may matter This report was filed under Item 1.01 (Entry into a Material Definitive Agreement), which covers the Company’s agreements to partition portions of an outstanding promissory note and exchange the partitioned notes for common stock, and it notes the Original Note was paid in full. The filing does not show why the insider traded or why the company acted.