Biometric security firm BIO-key has announced today the pricing of an underwritten offering 1,200,000 shares.The pricing is for an underwritten offering of 1,200,000 Units consisting of 1,200,000 shares of its common stock, with warrants to purchase up to an aggregate of 900,000 shares of the Company's common stock, at a purchase price price of $1.50 per Unit.The company has said the warrants will be exercisable immediately at an exercise price of $1.50 per share and will expire five years from the date of issuance. Gross proceeds, before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $1.8 million.BIO-key has granted the underwriter an over-allotment option, exercisable for a period of 45 days, to purchase up to 180,000 additional shares of its common stock and/or 135,000 warrants. The offering is expected to close on or about August 24, 2018, subject to satisfaction of customary closing conditions.BIO-key said intends to use the net proceeds from this offering for general corporate purposes, including working capital. Maxim Group LLC is acting as sole book-running manager for the offering.

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