最多206,1112股普通股

本招股說明書涉及本招股說明書中標題爲 「」 的出售股東不時進行的轉售出售股東，” 包括我們在私募交易中發行和出售的多達2,061,112股普通股，面值每股0.0001美元，包括行使A系列普通股認股權證（「A系列認股權證」）時可發行的1,030,556股普通股，以及行使b系列認股權證購買普通股時可發行的1,030,556股普通股（「系列A認股權證」）b 認股權證”）。

本招股說明書涵蓋的股票銷售所得的全部款項將由出售股東收取。我們不會從這些股票的銷售中獲得任何款項。

我們的普通股在納斯達克資本市場上市，標的爲「BKYI」。2024年10月21日，我們的普通股收盤價爲每股0.70美元。

我們將承擔所有與股份登記相關的費用、開支和費用。請參閱“分銷計劃”詳見第10頁，了解賣方股東如何出售或處置本公開發售的普通股的更多信息。

投資我們的證券涉及風險。您應仔細審閱本招股說明書中在以下標題下描述的風險和不確定性 “風險因素” 從本招股說明書第6頁開始，並在其他通過引用納入本招股說明書的文件中類似標題下

美國證券交易委員會或任何州證券委員會均未批准或駁回這些證券，也未確定本招股說明書的真實性或完整性。任何相反聲明均構成刑事犯罪。

本招股說明書日期爲2024年10月22日。

目錄

關於本招股說明書

我們未授權任何人向您提供與本招股說明書或我們可能授權交付或向您提供的任何自由書面說明書中包含的信息不同的信息。我們對他人可能提供給您的其他信息的可靠性不承擔任何責任，並且無法保證。本招股說明書的交付或我們證券的銷售並不意味着本招股說明書或任何自由書面說明書中包含的信息在本招股說明書或該自由書面說明書的日期後是正確的。本招股說明書不是在任何違法的情況下出售或者買入我們證券的要約或對外招攬要約。

本招股說明書中的信息僅截至本招股說明書封面日期爲準，我們可能提供的任何自由撰寫招股說明書中的信息僅截至該自由撰寫招股說明書的日期爲準。我們的業務、財務狀況、經營成果和前景可能自那些日期以來發生變化。未經本招股說明書授權的任何人在與本招股說明書有關時提供任何信息或作出任何陳述，除本招股說明書中包含的信息和陳述外，不得對我們、本次提供的證券或本招股說明書中討論的任何事項提供任何信息或作出任何陳述。如果提供或作出任何其他信息或陳述，則不得依賴該信息或陳述被視爲我們授權。

對於美國以外的投資者：我們沒有采取任何行動以允許在任何需要此目的的司法管轄區發行、擁有或分發本招股說明書，除非在美國。在美國以外的人士如獲得本招股說明書，必須自行了解與本招股說明書所涵蓋的證券發售以及在美國以外分發本招股說明書相關的任何限制，並予以遵守。

除非另有說明，本招股說明書中關於我們所在行業和經營市場的信息，包括我們的一般期望和市場地位、市場機遇和市場份額，均基於我們自身管理估計和研究取得的信息，以及行業和一般出版物、第三方進行的研究、調查和研究。管理估計是根據公開信息、我們對行業的了解以及基於這些信息和知識構建的假設得出的，我們認爲這是合理的。我們的管理估計沒有得到任何獨立來源的驗證，我們也沒有獨立驗證任何第三方信息。此外，我們和我們所在行業未來表現的假設和估計必然受到諸多因素的高度不確定性和風險的影響，包括“風險因素。”這些和其他因素可能導致我們未來的表現與我們的假設和估計有實質差異。請參閱“關於前瞻性聲明的特別說明.”

我們進一步注意到，在作爲註冊聲明一部分的任何協議中，我們所作的陳述、擔保和合同僅爲該等協議的相關各方（在某些情況下還包括用於在該等協議各方之間分配風險的目的）的利益而作出，並不應被視爲對您的陳述、擔保或合同。此外，這些陳述、擔保或合同僅在作出時的日期準確。因此，不應僅憑這些陳述、擔保和合同作爲我們事務當前狀況的準確代表。

我們在美國專利商標局及許多外國國家註冊了我們的商標「BIO-key®」、「True User Identification®」、「Intelligent Image Indexing®」、「WEb-key®」、「SideSwipe®」、「SidePass®」、「SideTouch®」、「EcoID®」、「PistolStar®」、「PortalGuard®」、「MobileAuth®」、「PASSIVEKEY®」和「PISTOLSTAR®」，保護了我們公司的名稱以及後文中討論的關鍵技術。本招股說明書還包括其他組織擁有的商標、商號和服務標誌。僅供方便起見，本招股說明書中提到的商標和商號可能沒有出現®和™標誌，但這些參考並不意味着我們不會根據適用法律的規定充分主張我們的權利，或者相應的所有者不會主張其對這些商標和商號的權利。

概要

本摘要突出了本招股說明書中包含的信息或者通過參考我們向證券交易委員會（SEC）提交的文件併入本招股說明書。因爲這僅僅是一個摘要，它並不包含您在購買本次發行中我方證券前應考慮的所有信息，且完全取決於具有資格的全文，並應與本招股說明書中出現的更詳細信息一起閱讀或參考。您應當閱讀整個招股說明書以及本招股說明書所屬的註冊聲明以及此處參考的信息的全文，包括 “風險因素” 和我們的基本報表及相關附註納入本招股說明書進行參考，再進行本次發行中購買我方證券。除非情境要求其他方式，本招股說明書中提到 “bio-key，”該“公司” “我們” “我們”和頁面。“我們的” 請參考bio-key international公司及其附屬公司。

概述

bio-key international 是領先的身份和訪問管理提供商，為企業、教育和政府客戶提供安全的遠程工作環境。我們的願景是使任何組織能夠確保簡化和無需密碼的員工、客戶、學生和公民進入任何在線服務、工作站或移動應用，而無需使用令牌或手機。我們的產品包括PortalGuard®和PortalGuard身份管理服務(IDaaS)企業 IAM、WEb-key®生物識別公民和大型身份基礎架構 (ID)基礎設施，以及附件硬件，為我們的客戶提供完整解決方案。我們還是AuthControl Sentry、AuthControl Enterprise 和AuthControl MSP的經銷商。

數百萬人每天使用BIO-key多重身份驗證（MFA）解決方案，以安全地訪問各種雲端、移動和網絡應用程序，以及來自所有設備的本地和基於雲端的伺服器。我們不僅實現了無密碼，還提供無需手機和無需令牌的認證方法。這個重要的不同之處對於零售、呼叫中心、製造業、車間和醫療環境尤其有效，這些環境利用巡邏工人和共用工作站。不同於大多數數位身份解決方案，BIO-key還在保護面對面身份方面發揮作用。例如，一位銀行客戶已經用BIO-key作為他們的KYC流程的一部分，為超過2200萬名客戶的生物特徵進行了登記，然後在客戶訪問銀行服務時每次使用BIO-key指紋技術，以確保在與他們交易之前對他們進行正確識別。

BIO-key PortalGuard和託管PortalGuard IDaaS身份驗證平台能夠讓我們的客戶確保只有合適的人通過利用我們世界級生物識別能力來訪問合適的系統，其中包括其他17種可用的身份驗證方法。PortalGuard透過允許使用者在任意工作站進行生物識別驗證而無需使用手機或令牌，使得超越傳統的MFA解決方案，解決了一些重要的安防缺口，包括消除未獲授權的賬戶委派，檢測重複用戶，以及配合親自識別。

我們的客戶使用PortalGuard來管理和安全地訪問數字系統，這些系統是由他們的員工、承包商和合作夥伴使用的，這就是我們所謂的工作人員身份。PortalGuard也用於通過我們開發的API和行業標准聯合標準來管理和保護組織的客戶身份，這就是我們所謂的客戶身份。通過使用PortalGuard，我們的客戶可以安全地與供應鏈和合作夥伴進行協作，並為他們的客戶提供在線或實際場景中靈活且強大的用戶體驗。

截至2022年，當我們收購總部位於西班牙馬德里的Swivel Secure Europe時，我們擴展了產品供應和客戶基礎。 Swivel Secure Europe是歐洲、非洲和中東（歐洲、中東和非洲）的IAm解決方案供應商，專門提供AuthControl Sentry、AuthControl Enterprise和AuthControl MSP產品線，不包括英國和愛爾蘭。 這些解決方案包括PINsafe，這是一項專利的一次性代碼提取技術，可以幫助企業應對雲服務和“攜帶您自己的設備”政策帶來的不斷增加的數據安全風險。

大規模客戶和公民ID用戶使用我們可擴展的生物識別管理平台和FBI認證的掃描器硬件，為數百萬用戶進行註冊、去重和身份驗證。

我們將我們的品牌化USb指紋和FIDO身份驗證硬件作為我們IAm平台的配件出售，這樣客戶就能夠由單一供應商提供所有元件，構成他們的IAm解決方案。我們的指紋生物特徵平台經過NISt認證，在指紋平台中獨具特色，支持在部署中混合和匹配不同製造商的指紋掃描器。這為我們的客戶提供了靈活性，可根據具體用例選擇適合的掃描器，而無需強制使用特定的掃描器。

我們運營一家軟體即服務（saas-云计算）業務模式，客戶訂閱我們的軟體，導致年度重複營業收入。我們通過直接銷售團隊和內部銷售團隊，以及間接通過我們的合作夥伴網絡（包括經銷商、系統整合商、主代理商和其他分銷合作夥伴）銷售我們的產品。我們的訂閱費用包括專屬或本地部署產品的一期許可證、技術支援和維護我們平台。我們主要根據使用的產品和我們平台上的用戶數量來設定訂閱費用。我們根據非取消合同產生訂閱費用，平均持續期約一年。

戰略展望

從歷史來看，我們最大的市場是在高度規管的行業中進行身份驗證，如政府、金融服務和醫療保健。隨著多因素驗證作為網絡安全概念的要求，幾乎所有企業開始為其用戶群採用多因素驗證。我們能夠通過我們的無需手機和無需令牌的生物識別技術為這些企業添加價值或取代第一代部署的多因素驗證解決方案，從眾多基於手機和令牌的多因素驗證解決方案中脫穎而出。我們認為，隨著企業體會到管理令牌和密碼所產生的生命週期成本，他們將有經濟動力考慮將BIO-key PortalGuard 納入其 IAM 解決方案。PortalGuard將使他們能夠繼續使用現有的FIDO設備，同時有選擇性地補充其身份驗證選項，以及無需令牌和手機的生物識別選擇。

我們預計在這些高度受管制的行業中擴展我們的業務，並且期望在2024年及以後持續擴大這一版圖。我們相信持續提高的安全和隱私要求將產生對安全解決方案（包括生物識別技術）需求的增加。此外，我們預計，我們的技術為Windows 10和11用戶提供的相容性卻優越的可攜式生物識別用戶體驗，將加速對我們的計算機網絡登錄解決方案和指紋識別器的需求。通過直接銷售、經銷商以及與領先的高等教育平台提供商的戰略合作夥伴關係，我們預計將繼續擴大我們的安裝基礎。透過Swivel Secure Europe，我們也預計在歐洲、中東和非洲擴大我們的業務。

我們的主要銷售策略主要集中在：(i) 增加對iam市場的營銷努力，(ii) 全球大型識別項目的專注追求，以及(iii) 擴大我們的渠道聯盟計劃，該計劃包括超過一百五十名參與者，並持續產生增量收入。

成長策略的第二個組成部分是追求IAm領域中選定業務和資產的戰略收購。為了推進這一策略，我們在業務板塊中保持活躍並定期評估我們認為將為我們提供新市場垂直領域或與我們現有業務相輔相成、在任一情況下都能有益於收益的業務。我們無法保證我們是否能夠完成任何收購，並且如果完成，能夠成功地將我們收購的任何業務整合到我們的業務運作中。

一般

我們的主要行政辦公室位於新澤西州霍姆德爾101 Crawfords Corner Road，4116套房，郵遞區號07733，我們的電話號碼是(732) 359-1100。我們的網站位於 www.bio-key.com。我們網站上的資訊或任何其他網站上的資訊並未納入本招股說明書的參考範圍內。我們的網站地址僅作為文字參考而已，並非活躍的參考。

BIO-key標誌是我們的商標。本招股說明書和我們引用進本招股說明書的文件也可能包含其他人的商標和交易名稱。

發售

本次發行後，我們普通股的流通股數基於2024年10月21日已發行的3,109,288股普通股，並且不包括以下日期的部分：

風險因素

投資我們的證券涉及高度風險。 在決定投資我們的證券之前，您應仔細考慮下列風險和不確定性，以及在2024年6月5日提交給證券交易委員會（即SEC）的第10-K表格中描述的風險和不確定性。這些風險和不確定性已納入本招股說明書內，以及所有本招股說明書中提到的資訊和引用文件，以及我們在該發行事項中授權使用的任何自由書面招股說明書。如果以下風險因素中討論的任何事項發生，我們的業務、財務狀況、營運結果、現金流量或前景可能會受到重大不利影響，我們的普通股市價可能下降，您可能會損失我們證券中的全部或部分投資。迄今尚不為人知或我們認為截至本日期為止並不重要的其他風險和不確定性也可能對我們的業務造成不利影響。 “風險因素” 在我們於2024年6月5日向證券交易委員會或SEC提交的第10-K表格中，描述的風險和不確定性已納入本招股說明書，與本招股說明書中包含的所有其他信息和引用文件以及任何我們已為與該發行有關使用的任何自由書面招股說明書一起。如果以下風險因素中討論的任何事項發生，我們的業務、財務狀況、營運結果、現金流量或前景可能會受到重大不利影響，我們的普通股市價可能下降，您可能會損失我們證券中的全部或部分投資。迄今尚不為人知或我們認為截至本日期為止並不重要的其他風險和不確定性也可能對我們的業務造成不利影響。

與本次發行相關的風險

在公開市場沽售大量我們普通股，包括在本招股說明書中提供的股份，可能會降低我們的股價，並損害我們籌集所有基金类型在新股發售方面的能力。

如果我們的股東賣出大量的普通股，我們的普通股市價可能會下跌。截至2024年10月21日，我們持有3,109,288股普通股。根據本登記聲明，我們正在登記由出售股東持有的2,061,112股普通股的轉讓，所有這些股份都可以通過行使A系列認股權證和B系列認股權證獲得。假設所有此類認股權證已行使，此處提供的股份約佔我們流通普通股的40%。此外，我們可能在隨後的發行中賣出額外的普通股。

我們無法預測未來普通股的發行規模或者未來普通股的發行和銷售可能產生的影響，包括在本註冊聲明下發行的股份、其他註冊聲明、在2023年10月30日公開募股中發行的流通權證發行的股份、根據1933年修訂版證券法規144規定可以再次銷售的股份（「證券法」下的股份），或者對這種銷售可能發生的看法，可能會對我們的普通股市場價格或者通過出售股權證券籌集額外資本的能力產生影響。隨着普通股的額外發行，投資者將遭受稀釋，如果發生任何市場流通股的稀釋，我們的每股收益也可能會發生稀釋。

我們的股票可能無法維持一個活躍的交易市場。

儘管我們的股票在納斯達克資本市場上市，但我們的股票市場表現出不同水平的交易活動。目前的交易水平可能無法在未來持續。我們的股票沒有活躍的市場可能會影響投資者在想要賣出股票的時間以及他們認爲合理的價格出售股票的能力，可能降低他們股票的公允市場價值，可能影響我們通過發行股票籌集資金繼續資助運營的能力，並可能影響我們通過使用我們的股票作爲對價來獲取額外資產的能力。

有關前瞻性聲明之特別說明 

除本招股說明書中陳述的歷史事實之外，關於我公司未來財務狀況、業務策略和管理層對未來運營的計劃和目標的其他聲明，均屬前瞻性聲明。"預期"、"相信"、"應該"、"估計"、"將"、"可能"、"未來"、"計劃"、"打算"和"期望"等用語通常標識前瞻性聲明。這些聲明並非對未來業績或事件的擔保，受到可能導致實際結果與前瞻性聲明中包含的或所含蘊的結果不符的風險和不確定性的影響。這些風險和不確定性包括但不限於：我們的虧損歷史和有限的營業收入；我們籌集額外資金以滿足債務償還義務和營運資本需求的能力；我們繼續作爲持續經營的能力；我們保護知識產權的能力；業務狀況的變化；我們的銷售策略和產品開發計劃的變化；市場的變化；我們的高管團隊的持續服務；安全漏洞；生物特徵技術和身份訪問管理行業的競爭；生物識別產品以及我們正在開發的產品在市場上的接受程度；我們能否將銷售機會轉化爲客戶合同的能力；我們進入亞洲、非洲和其他海外市場的能力；我們將Swivel Secure的運營和人員整合到我們業務的能力；外匯和匯率的波動；烏克蘭持續衝突的持續程度和影響我們歐洲客戶的影響；產品開發滯後、商業風險、聲譽風險和監管風險會因我們的財務報表重述而產生的；如果我們未能將股東權益增加至至少250萬美元，我們的普通股將被納斯達克股票市場除牌，這可能對我們普通股的交易價格產生負面影響並損害我們籌集資本的能力，未來無法使用Form S-3註冊聲明註冊證券；我們在2024年未能消除內部財務報告控制的特定重大缺陷時，未來業務可能出現的任何中長期中斷情況；上述所有聲明的假設，以及其他國家、區域和全球範圍的衆多事項，包括在""標題下所列事項。風險因素在本招股說明書及向美國證券交易委員會提交的其他文件中。這些因素並非旨在代表可能影響我們的所有一般或特定因素的完整清單。應該認識到，其他因素，包括一般經濟因素和業務策略，可能在現在或未來具有重要意義。

您應該仔細閱讀本招股說明書，以及我們在本招股說明書中引用並作為註冊申請文件展示的文件，這些文件完整地，並且了解我們未來實際結果可能與我們預期有實質不同。我們通過這些警語聲明來限定本招股說明書中的所有前瞻性陳述。

除非法律要求，我們不承擔將這些前瞻性聲明公開更新的義務，也不承擔更新導致實際結果與任何前瞻性聲明中預期結果顯著不同的原因，無論是否由於新資訊、未來事件或其他原因。

本招股說明書還提及獨立方及本公司所作有關市場規模及增長以及我們行業板塊其他數據的估計及其他統計數據。這些數據涉及多項假設和限制，您應當注意不要過分重視此等估計。此外，我們未來表現及我們所在市場未來表現的預測、假設和估計必須面對高度的不確定性和風險。

發行

本招股說明書涵蓋Armistice Capital Master Fund Ltd. 賣出高達2,061,112股普通股，包括1,030,556股憑某些A系列認股權行使而可發行的普通股，以及1,030,556股憑某些B系列認股權行使而可發行的普通股。本招股說明書也涵蓋我們可能發行的任何額外普通股，或因任何普通股拆股、股息或其他類似交易而可發行的普通股。出售股份的股東可透過公開或私人交易以市場行情價格或私下協商價格出售本招股說明書涵蓋的股份。我們將不從本次發行中收到任何收益。若所有此處所提供股票的認股權被行使，我們將獲得總計$3,813,057.20的總毛收益。

於2024年9月12日，我們與持股股東簽訂了一項認股權行使協議（「認股權行使協議」），行使了一定金額的特定未行使認股權，購買公司原本於2023年10月31日發行予持股股東的1,030,556股普通股，原始行使價為每股3.15美元（「現有認股權」）。公司發行的基於現有認股權的普通股已根據表S-1（文件編號333-275003）的登記聲明書登記。

考慮到現有認股權的即時行使，行使持有人獲得了新的未註冊A系列認股權，以購買公司普通股高達1,030,556股，新的未註冊B系列認股權，以購買公司普通股高達1,030,556股，公司還同意將現有認股權的行使價格降至每股1.85美元。

A系列認股權證和B系列認股權證具有基本相同的條款，可立即行使，行使價格爲每股1.85美元，自發行日期起五年後到期。公司同意在認股權行使協議日期後儘快（並在任何情況下在30個日曆日內）向SEC提交一份關於公司普通股認股權證（A系列和B系列）行使後股票的轉售註冊聲明，並且採取商業上合理努力使該轉售註冊聲明在認股權行使協議日期後60日曆日內被SEC宣佈生效（或者在SEC對該註冊聲明進行「全面審查」情況下，認股權行使協議日期後90個日曆日內）。A系列認股權證和B系列認股權證各自包含一項有利的所有權限制，防止投資者隨時擁有公司已發行普通股的4.99%以上。

公司從行使現有認股權證中獲得的總收益約爲190萬美元，扣除放置代理費用和預計發行費用之前。該發行交易已於2024年9月13日結束。公司擬將淨收益用於營運資金和一般性公司用途，包括償還公司未償還的一部分擔保票據。

使用資金

出售股東將收到所有通過本次發行的普通股份出售所得款項。我們將不會從股東出售的普通股份銷售中獲得任何款項。

然而，我們將收到等於認股權證行使價格的現金收益。因此，假設A系列認股權證和B系列認股權證均以每股1.85美元的行使價格全部行使，我們可能獲得高達3813057.20美元的總毛收益。我們預計將利用自認股權證行使所得款項用於營運資金和一般公司用途，包括償還部分公司未償債券。

我們將承擔與股份註冊相關的所有成本、費用和費用，包括但不限於所有註冊和申報費用，以及我們的律師和會計事務所的費用和支出。

確定發行價格

出售股東將以市場現行價格或私下協商價格提供普通股。 我們普通股的發行價格不一定與我們的賬面價值、資產、過往經營結果、財務狀況或任何其他既定價值標準有關。 我們的普通股可能不會以超過發行價格的市場價格交易，在任何公開市場中普通股的價格將由市場決定，並可能受許多因素影響，包括深度和流動性。

售出股票方

當提及本招股說明書中的 “出售股東是本招股說明書中指出的實體，包括下表所列實體及其質押人、受贈人、受讓人、受讓人、繼承人和後來對本招股說明書所提供的普通股的利益持有的其他人，除了通過公開銷售。” ，我們指的是下表中明確標識的人或實體，以及可以隨後持有任何出售股東權益的被許可受讓人、質押人、受贈人、受讓人、繼承人和其他繼承權人’而非通過公開銷售。

以下表格中確定的出售股東正要重新銷售206,1112股我們的普通股。所有證券均在上文中描述的定向增發交易中發行給出售股東。本次發行”.

以下表格列出：

__________________________________

The beneficial ownership set forth above has been determined in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), based on 3,109,288 shares of our common stock outstanding on October 21, 2024. Except as indicated by footnote, and subject to applicable community property laws, we believe that the beneficial owners of the common stock listed below have sole voting power and investment power with respect to their shares. The selling stockholder is not affiliated with a broker-dealer registered under the Exchange Act.

The registration of these shares of common stock does not mean that the selling stockholder will sell or otherwise dispose of all or any of those securities. The selling stockholder may sell or otherwise dispose of all, a portion or none of such shares from time to time. We do not know the number of shares, if any, that will be offered for sale or other disposition by the selling stockholder under this prospectus. Furthermore, the selling stockholder may have sold, transferred or disposed of the shares of common stock covered hereby in transactions exempt from the registration requirements of the Securities Act since the date on which we filed this prospectus.

Information about the selling stockholder may change over time. Any changed information will be set forth in an amendment to the registration statement (of which this prospectus forms a part) or a supplement to this prospectus, to the extent required by law.

PLAN OF DISTRIBUTION

We are registering 2,061,112 shares of our common stock for possible sale by the selling stockholder. The selling stockholder will act independently of us in making decisions with respect to the timing, manner and size of each sale. The selling stockholder may, from time to time, sell any or all of its shares of common stock on the Nasdaq Capital Market or any other stock exchange, market or trading facility on which the shares are traded or in private transactions. These sales may be at fixed or negotiated prices. The selling stockholder may use any one or more of the following methods when selling shares:

The selling stockholder may also sell shares under Rule 144 under the Securities Act, if available, rather than under this prospectus supplement and accompanying prospectus.

Broker-dealers engaged by the selling stockholder may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholder (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated. The selling stockholder does not expect these commissions and discounts to exceed what is customary in the types of transactions involved. Any profits on the resale of shares of common stock by a broker-dealer acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. Discounts, concessions, commissions and similar selling expenses, if any, attributable to the sale of shares will be borne by the selling stockholder.

The selling stockholder may agree to indemnify any agent, dealer or broker-dealer that participates in transactions involving sales of the shares if liabilities are imposed on that person under the Securities Act. If we are notified by the selling stockholder that any arrangement has been entered into with a broker-dealer for the sale of shares of common stock, if required, we will file an amendment to this prospectus. If the selling stockholder uses this prospectus for any sale of the shares of common stock, the selling stockholder will be subject to the prospectus delivery requirements of the Securities Act.

The selling stockholder and any broker-dealer or agents participating in the distribution of the shares of common stock may be deemed to be “underwriters” within the meaning of Section 2(11) of the Securities Act in connection with such sales. In such event, any commissions paid, or any discounts or concessions allowed to, any such broker-dealer or agent and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. If the selling stockholder is an “underwriter” within the meaning of Section 2(11) of the Securities Act, it will be subject to the applicable prospectus delivery requirements of the Securities Act and may be subject to certain statutory liabilities of, including but not limited to, Sections 11, 12 and 17 of the Securities Act and Rule 10b-5 under the Exchange Act.

The selling stockholder also may transfer the shares of common stock in other circumstances, in which case the transferees or other successors in interest will be the selling beneficial owners for purposes of this prospectus and may sell the shares of common stock from time to time under this prospectus after we have filed an amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act supplementing or amending the list of selling stockholders to include the transferees or other successors in interest as selling stockholders under this prospectus.

We will bear all costs, expenses and fees in connection with the registration of the shares.

We will indemnify the selling stockholder against certain liabilities, including liabilities under the Securities Act, or the selling stockholder will be entitled to contribution. We may be indemnified by the selling stockholder against civil liabilities, including liabilities under the Securities Act, that may arise from any written information furnished to us by the selling stockholder specifically for use in this prospectus or we may be entitled to contribution.

DESCRIPTION OF CAPITAL STOCK

Common Stock

The following summary description of our common stock is based on the provisions of our certificate of incorporation and bylaws, which are incorporated by reference into the registration statement which includes this prospectus, and the applicable provisions of the Delaware General Corporation Law (“DGCL”). This information may not be complete in all respects and is qualified in its entirety by reference to the provisions of our certificate of incorporation, bylaws and the DGCL. For information on how to obtain copies of our certificate of incorporation and bylaws, see the information below under the heading “Where You Can Find Additional Information.”

Authorized. We currently have authority to issue up to 170,000,000 shares of common stock, $0.0001 par value per share. As of October 11, 2024, we had 3,109,288, shares of common stock outstanding. From time to time we may amend our certificate of incorporation to increase the number of authorized shares of common stock. Any such amendment would require the approval of the holders of a majority of the voting power of the shares entitled to vote thereon.

Voting. For all matters submitted to a vote of stockholders, each holder of common stock is entitled to one vote for each share registered in the holder’s name on our books. Our common stock does not have cumulative voting rights. Holders of a plurality of our outstanding common stock can elect all of the directors who are up for election in a particular year. Holders of a majority of our outstanding common stock act by a majority for all other matters, except as limited by our certificate of incorporation, bylaws and the DGCL.

Dividends. If our Board of Directors declares a dividend, holders of common stock will receive payments from our funds that are legally available to pay dividends. However, this dividend right is subject to any preferential dividend rights we may grant to the persons who hold preferred stock, if any is outstanding.

Liquidation and Dissolution. If we are liquidated or dissolve, the holders of our common stock will be entitled to share ratably in all the assets that remain after we pay our liabilities and any amounts we may owe to the persons who hold preferred stock, if any is outstanding.

Fully Paid and Nonassessable. All shares of our outstanding common stock are fully paid and nonassessable and any additional shares of common stock that we issue will be fully paid and nonassessable.

Other Rights and Restrictions. Holders of our common stock do not have preemptive or subscription rights, and they have no right to convert their common stock into any other securities. Our common stock is not subject to redemption by us. The rights, preferences and privileges of common stockholders are subject to the rights of the stockholders of any series of preferred stock which we may designate in the future. Our certificate of incorporation and bylaws do not restrict the ability of a holder of common stock to transfer his or her shares of common stock.

Listing. Our common stock is listed on The Nasdaq Capital Market under the symbol “BKYI.”

Transfer Agent and Registrar. The transfer agent and registrar for our common stock is Broadridge Corporate Issuer Solutions, Inc.

Preferred Stock

The following summary description of our preferred stock is based on the provisions of our certificate of incorporation and bylaws, which are incorporated by reference into the registration statement which includes this prospectus, and the applicable provisions of the DGCL. This information may not be complete in all respects and is qualified in its entirety by reference to the provisions of our certificate of incorporation, bylaws and the DGCL. For information on how to obtain copies of our certificate of incorporation and bylaws, see the information below under the heading “Where You Can Find Additional Information.”

General. We currently have authority to issue up to 5,000,000 shares of preferred stock, $0.0001 par value per share, none of which are outstanding. We may amend from time to time our certificate of incorporation to increase the number of authorized shares of preferred stock or to designate a new series of preferred stock. Unless required by law, the authorized shares of preferred stock will be available for issuance without further action by you. Our Board of Directors is able to determine, with respect to any series of preferred stock, the powers (including voting powers), preferences and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions thereof, including, without limitation:

We could issue a series of preferred stock that could, depending on the terms of the series, impede or discourage an acquisition attempt or other transaction that some, or a majority, of the holders of our common stock might believe to be in their best interests or in which the holders of our common stock might receive a premium for their common stock over the market price of that common stock. Additionally, the issuance of preferred stock may adversely affect the holders of our common stock by restricting dividends on the common stock, diluting the voting power of the common stock, or subordinating the liquidation rights of the common stock. As a result of these or other factors, the issuance of preferred stock could have an adverse impact on the market price of our common stock.

Certain Effects of Delaware Law and Certificate of Incorporation and Bylaw Provisions

Authorized But Unissued Stock. We are authorized to issue 175,000,000 shares of capital stock, consisting of 170,000,000 shares of common stock and 5,000,000 shares of preferred stock. We have shares of common stock and preferred stock available for future issuance without stockholder approval, subject to any limitations imposed by the listing standards of The Nasdaq Capital Market. We may use these additional shares for a variety of corporate purposes, including for future public or private offerings to raise additional capital or facilitate corporate acquisitions or for payment as a dividend on our capital stock. The existence of unissued and unreserved common stock and preferred stock may enable our Board of Directors to issue shares to persons friendly to current management that could render more difficult or discourage a third-party attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise, thereby protecting the continuity of our management.

Blank Check Preferred Stock. Our Board of Directors is authorized without further stockholder action, to designate any number of series of preferred stock with such rights, preferences and designations as determined by the Board of Directors. Shares of preferred stock issued by the Board of Directors could be utilized, under certain circumstances, to make an attempt to gain control of the Company more difficult or time-consuming. For example, shares of preferred stock could be issued with certain rights that might have the effect of diluting the percentage of common stock owned by a significant stockholder or issued to purchasers who might side with management in opposing a takeover bid that the Board of Directors determines is not in the best interests of the Company and its stockholders. The existence of the preferred stock may, therefore, be viewed as having possible anti-takeover effects.

Limitations on Written Consent of Stockholders. Except as may be approved in advance by the Board of Directors, any action required or permitted to be taken by our stockholders at any annual or special meeting must be effected at a duly called annual or special meeting of stockholders and may not be taken or effected by a written consent of stockholders in lieu thereof.

Limitations on Special Meetings of Stockholders. Except as otherwise required by statute, special meetings of the stockholders may be called only by the Board of Directors.

Advance Notice Requirements for Stockholder Proposals and Director Nominations. Our bylaws provide that stockholders who desire to nominate a person for election to our Board of Directors must comply with specified notice and information provisions. Our bylaws contain similar advance notice provisions for stockholder proposals for action at stockholder meetings. These provisions prevent stockholders from making nominations for directors and stockholder proposals from the floor at any stockholder meeting and require any stockholder making a nomination or proposal to submit the name of the nominees for board seats or the stockholder proposal, together with specified information about the nominee or any stockholder proposal, prior to the meeting at which directors are to be elected or action is to be taken. These provisions ensure that stockholders have adequate time to consider nominations and proposals before action is required, and they may also have the effect of delaying stockholder action.

Supermajority Vote Requirements. Any director may be removed from office only with cause and only by the affirmative vote of the holders of 75% or more of our shares then entitled to vote at an election of directors. Additionally, our bylaws may be amended or repealed by the affirmative vote of at least 75% of the outstanding shares entitled to vote on such amendment or repeal, voting together as a single class. These provisions may prevent stockholders from removing existing directors and amending our bylaws, each of which could have the effect of delaying or preventing a change in control of the Company.

Indemnification. Our certificate of incorporation and bylaws contain provisions to indemnify our directors and officers to the fullest extent permitted by the DGCL. These provisions do not limit or eliminate our right or the right of any stockholder of ours to seek non-monetary relief, such as an injunction or rescission in the event of a breach by a director or an officer of his duty of care to us.

Business Combinations. We are subject to the provisions of Section 203 of the DGCL. Subject to certain exceptions, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years after the person became an interested stockholder, unless the business combination is approved in a prescribed manner. A “business combination” includes mergers, asset sales and other transactions resulting in a financial benefit to the interested stockholder. Subject to exceptions, an “interested stockholder” is a person who, together with affiliates and associates, owns, or within the prior three years did own, 15% or more of the corporation’s voting stock. This provision could have the effect of delaying or preventing a change in control of the Company.

LEGAL MATTERS

The validity of the securities offered hereby will be passed upon for us by Fox Rothschild LLP, Princeton, New Jersey.

EXPERTS

The financial statements of BIO-key International, Inc. as of December 31, 2023 and for the year then ended incorporated by reference in this prospectus have been so incorporated in reliance on the report of Bush and Associates CPA, the Company’s current independent registered public accounting firm, given on the authority of said firm as experts in auding and accounting. The financial statements of BIO-key International, Inc. as of December 31, 2022 and for the year then ended incorporated by reference in this prospectus have been so incorporated in reliance on the report of Marcum LLP., the Company’s former independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

WHERE YOU CAN FIND MORE INFORMATION

We file annual, quarterly and special reports, proxy statements and other documents with the SEC. You may read and copy any document we file at the SEC’s public reference room at 100 F Street, N.E., Washington, D.C. 20549. You should call 1-800-SEC-0330 for more information on the public reference room. The SEC maintains an Internet website at www.sec.gov that contains reports, proxy and information statements, and other information regarding issuers of securities, like us, that file electronically with the SEC. Our SEC filings are available to you on the SEC’s Internet website. We also maintain a website at www.bio-key.com, which provides additional information about the Company. The contents of our website or any other website, however, are not a part of this prospectus and is not incorporated by reference into this prospectus. Our website address is included as an inactive textual reference only.

This prospectus is part of a registration statement on Form S-1 that we filed with the SEC to register the securities to be offered hereby. This prospectus does not contain all of the information included in the registration statement, including certain exhibits and schedules. You may obtain the registration statement and exhibits to the registration statement from the SEC at the address listed above or from the SEC’s website listed above.

INCORPORATION OF CERTAIN INFORMATION BY REFERENCE

We are incorporating by reference certain documents we file with the SEC, which means that we can disclose important information to you by referring you to those documents. The information in the documents incorporated by reference is considered to be part of this prospectus. We incorporate by reference the documents listed below and any future filings we may make with the SEC under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this prospectus and before the termination of the offering. Additionally, all filings filed by the registrant pursuant to the Exchange Act after the date of the initial registration statement and prior to effectiveness of the registration statement shall be deemed to be incorporated by reference into this prospectus.

In no event, however, will any of the information that we “furnish” to the SEC in any current report on Form 8-K or any other report or filing be incorporated by reference into, or otherwise included in, this prospectus.

Information contained in this prospectus supplements, modifies or supersedes, as applicable, the information contained in earlier-dated documents incorporated by reference. Information contained in later-dated documents incorporated by reference supplements, modifies or supersedes, as applicable, the information contained in this prospectus or in earlier-dated documents incorporated by reference.

We will provide to each person, including any beneficial owner, to whom a prospectus has been delivered, free of charge, upon oral or written request, copies of any documents that we have incorporated by reference into this prospectus. You may request, orally or in writing, a copy of these documents, and any exhibits incorporated by reference in these documents, which will be provided to you at no cost, by contacting:

BIO-key International, Inc.

101 Crawfords Corner Road, Suite 4116

Holmdel, New Jersey 07733

Attention: Chief Financial Officer, Cecilia Welch

Telephone: (732) 359-1100

The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC and state the address of that site (www.sec.gov) and these reports, proxy and information statements are also available through our website at www.bio-key.com/investor-relations/.

You should rely only on the information contained in this prospectus, including information incorporated by reference as described above, or any prospectus supplement that we have specifically referred you to. We have not authorized anyone else to provide you with different information. You should not assume that the information in this prospectus or any prospectus supplement is accurate as of any date other than the date on the front of those documents or that any document incorporated by reference is accurate as of any date other than its filing date. You should not consider this prospectus to be an offer or solicitation relating to the securities in any jurisdiction in which such an offer or solicitation relating to the securities is not authorized. Furthermore, you should not consider this prospectus to be an offer or solicitation relating to the securities if the person making the offer or solicitation is not qualified to do so, or if it is unlawful for you to receive such an offer or solicitation.

DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION FOR SECURITIES ACT LIABILITIES

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the registrant pursuant to the foregoing provisions, the registrant has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is therefore unenforceable.

Up to 2,061,112 Shares of Common Stock 

PROSPECTUS

October 22, 2024