BIO-key undergoes 1 – for – 2 reverse stock split of common stock for 20 days
BIO-key International, Inc. reported last week that its 1-for-2 reverse stock split of its common stock is effective for trading purposes as of February 6th.
Under this structure, Bio-Key will convert every two shares of issued and outstanding common stock into one share of common stock.
The company’s common stock will trade under a new CUSIP number 09060C200 and for the next 20 trading days, using the ticker symbol “BKYID”. After this period, Bio-key International’s will go back to trading under its previous ticker symbol, “BKYI”.
The number of Bio-key’s outstanding common shares will be reduced from 132,002,317 to about 66,002,000.
The number of shares and the value per share will stay the same, and no fractional shares will be issued in connection with the reverse stock split.
Headquartered in Wall, New Jersey, BIO-key International, Inc. develops and provides a range of advanced biometric identification solutions to commercial and government enterprises, integrators, and custom application developers.
Previously reported, BIO-key International reported it earned revenue in both the fourth quarter and full 2014 fiscal year from advanced fingerprint authentication solutions within its OEM and mobility business segment.