Form S-8 BIO KEY INTERNATIONAL
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As filed with the Securities and Exchange Commission on June 29, 2021
Registration No. 333-_______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
BIO-KEY INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
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Delaware (State or other jurisdiction of incorporation or organization) |
41-1741861 (I.R.S. Employer Identification Number) |
3349 Highway 138, Building A, Suite E
Wall, NJ 07719
(Address of principal executive offices) (Zip code)
BIO-key International, Inc. Amended and Restated
2015 Equity Incentive Plan
(Full title of the plan)
Michael W. DePasquale
Chief Executive Officer
BIO-key International, Inc.
3349 Highway 138, Building A, Suite E
Wall, NJ 07719
(732) 359-1100
(Name and address and telephone number, including area code, of agent for service)
Copies requested to:
Copies requested to:
Vincent A. Vietti
Fox Rothschild LLP
997 Lenox Drive, Building 3
Lawrenceville, NJ 08648
(609) 896-3600
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
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Large accelerated filer ☐ |
Accelerated filer ☐ |
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Non-accelerated filer ☒ |
Smaller reporting company ☒ |
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Emerging growth company ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
CALCULATION OF REGISTRATION FEE
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Title of Securities to be Registered |
Amount to be Registered |
Proposed Maximum Offering Price Per Share |
Proposed Maximum Aggregate Offering Price |
Amount of Registration Fee |
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Common Stock, par value $.0001 per share |
601,500 (1) |
$3.985(2) |
$2,396,977.50 |
$261.51 |
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(1) |
Pursuant to Rule 416 under the Securities Act of 1933, as amended (the “Securities Act”), to the extent additional shares of Common Stock may be issued or issuable as a result of a stock split, stock dividend or other similar transaction while this Registration Statement is in effect, this Registration Statement is hereby deemed to cover all such additional shares of Common Stock. |
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(2) |
Estimated solely for the purpose of calculating the amount of the registration fee and calculated pursuant to Rule 457(c) and Rule 457(h) under the Securities Act on the basis of the average of the high and low sales prices of the Common Stock, as reported on the Nasdaq Stock Market on June 25, 2021. |
EXPLANATORY NOTE
BIO-key International, Inc. (the “Registrant” or the “Company”) has filed this registration statement on Form S-8 (this “Registration Statement”) with the United States Securities and Exchange Commission (the “Commission”) under the United States Securities Act of 1933, as amended (the “Securities Act”), to register an additional 601,500 shares of the Company’s Common Stock, $.0001 par value per share (“Common Stock”), issuable pursuant to awards under the BIO-key International, Inc. Amended and Restated 2015 Equity Incentive Plan (the “Amended Plan”). On June 16, 2016, the Company filed a registration statement on Form S-8 (File No. 333-212066) (the “Existing Form S-8”) to register 83,333 shares of Common Stock issuable pursuant to awards under the BIO-key International, Inc. 2015 Equity Incentive Plan (the “2015 Plan” and together with the “Amended Plan,” the “Plan”), and on September 12, 2019, the Company filed a registration statement on Form S-8 (File No. 333-233737) (the “Amended S-8”) to register an additional 104,167 shares of the Company’s Common Stock under the Plan, and such indeterminate number of shares of Common Stock as may become available under the Plan as a result of the adjustment provisions thereof.
Effective November 20, 2020, the Company amended its Certificate of Incorporation to effectuate a 1-for-8 reverse stock split of its outstanding shares of Common Stock. Accordingly, all share and per share amounts included herein have been adjusted to reflect this reverse stock split.
Pursuant to General Instruction E to Form S-8, the contents of the Existing Form S-8 and the Amended S-8 are incorporated herein by reference except to the extent supplemented, amended or superseded by the information set forth herein. Only those items of Form S-8 containing new information not contained in the Existing Form S-8 are presented herein.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
The following documents previously filed with the Commission are incorporated by reference into this Registration Statement:
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(a) |
The Registrant’s annual report on Form 10-K for the fiscal year ended December 31, 2020; |
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(b) |
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(c) |
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(d) |
The Registrant’s current reports on Form 8-K filed with the Commission on March 9, 2021, March 25, 2021, May 14, 2021, and June 21, 2021. |
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(e) |
In addition, all documents filed with the Commission by the Registrant (other than portions of such documents which are furnished and not filed) pursuant to Sections 13(a), 13(c), 14 and 15(d) of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”), subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all of the securities offered hereby have been sold or which deregisters all such securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the time of filing of such documents with the Commission.
Any statement contained in the documents incorporated or deemed to be incorporated by reference into this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference into this Registration Statement modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 8. Exhibits
The following exhibits are filed with or incorporated by reference into this Registration Statement:
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Exhibit No. |
Description |
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3.1 |
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3.2 |
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3.3 |
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3.4 |
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3.5 |
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3.6 |
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3.7 |
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3.8 |
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3.9 |
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4.1 |
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5.1 |
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23.1 |
Consent of Rotenberg Meril Solomon Bertiger & Guttilla, P.C. (filed herewith) |
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23.2 |
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24.1 |
Power of Attorney (included on signature page to this Registration Statement) |
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99.1 |
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Wall, State of New Jersey, on June 29, 2021.
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BIO-KEY INTERNATIONAL, INC. |
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(Registrant) |
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By: |
/s/ Michael W. DePasquale |
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Michael W. DePasquale |
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Chairman and Chief Executive Officer |
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KNOW ALL PERSONS BY THESE PRESENTS, that each individual whose signature appears below constitutes and appoints Michael W. DePasquale, with full authority to act without the others, his true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments to this registration statement, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated:
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Signature |
Title |
Date |
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/s/ Michael W. DePasquale |
Chairman and Chief Executive Officer |
June 29, 2021 |
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Michael W. DePasquale |
(Principal Executive Officer) | |||
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/s/ Cecilia Welch |
Chief Financial Officer |
June 29, 2021 |
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Cecilia Welch |
(Principal Financial and Accounting Officer) |
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/s/ Robert J. Michel |
Director |
June 29, 2021 |
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Robert J. Michel |
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/s/ Thomas E. Bush, III |
Director |
June 29, 2021 |
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Thomas E. Bush, III |
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/s/ Thomas Gilley |
Director |
June 29, 2021 |
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| Thomas Gilley |
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/s/Wong Kwok Fong |
Director |
June 29, 2021 |
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Wong Kwok Fong |
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/s/ Pieter Knook |
Director |
June 29, 2021 |
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Pieter Knook |
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/s/ Emmanuel Alia |
Director |
June 29, 2021 |
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Emmanuel Alia |
Exhibit 5.1
FOX ROTHSCHILD LLP
Princeton Pike Corporate Center
997 Lenox Drive
Lawrenceville, NJ 08648-2311
June 29, 2021
BIO-key International, Inc.
3349 Highway 138, Building A, Suite E
Wall, NJ 07719
Ladies and Gentlemen:
We are acting as counsel to BIO-key International, Inc., a Delaware corporation (the “Company”), in connection with the filing on this date of a Registration Statement on Form S-8 (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Securities Act”), with the Securities and Exchange Commission (the “Commission”) for the registration of 601,500 shares (the “Shares”) of the Company’s Common Stock, $0.0001 par value per share (“Common Stock”), issuable under the BIO-key International, Inc. Amended and Restated 2015 Equity Incentive Plan (the “Plan”).
We have examined the original or a photostatic or certified copy of such documents, records, and other information as we deemed relevant and necessary as the basis for the opinion set forth below. In such examination, we have assumed the genuineness and authenticity of each document submitted to us as an original, the conformity to the original document of each document submitted to us as a certified copy or photostatic copy, and the authenticity of the original of each such latter document. In connection with our examination, we have assumed the genuineness and authenticity of all signatures on original documents, including electronic signatures made and/or transmitted using electronic signature technology (e.g., via DocuSign or similar electronic signature technology), that any such signed electronic record shall be valid and effective to bind the party so signing as a paper copy bearing such party’s handwritten signature, the legal capacity of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photocopies, the authenticity of the originals of such latter documents, and the accuracy and completeness of all documents and records reviewed by us. In addition, we have assumed, in rendering the opinion set forth below, that any stock certificate evidencing any shares of the Company’s Common Stock registered by the Registration Statement, when issued under the Plan, will have been duly executed on behalf of the Company and will have been countersigned by the Company’s transfer agent and registered by the Company’s registrar prior to its issuance.
This opinion is limited to the General Corporation Law of the State of Delaware (including the statutory provisions, all applicable provisions of the Delaware Constitution and reported judicial decisions interpreting the foregoing) and is based on these laws as in effect on the date hereof, and we express no opinion with respect to the applicability thereto, or the effect thereon, of the laws of any other jurisdiction. We express no opinion as to the applicable choice of law rules that may affect the interpretation or enforcement of the Common Stock. We further disclaim any opinion as to any statute, rule, regulation, ordinance, order or other promulgation of any regional or local governmental body or as to any related judicial or administrative opinion or matter may be inferred or implied herefrom.
On the basis of our examination mentioned above, subject to the assumptions stated and relying on statements of fact contained in the documents that we have examined, we are of the opinion that the Shares registered pursuant to the Registration Statement have been duly and validly authorized and reserved for issuance and that upon the issuance of such Shares and payment therefore in accordance with the provisions of the Plan and the instruments executed pursuant to the Plan, the Shares will be legally and validly issued, fully paid, and non-assessable.
The opinion expressed herein is rendered as of the date hereof and we expressly disclaim any obligation to update this letter or advise you of any change in any matter after the date hereof.
We consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement. In giving such consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.
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Very truly yours, |
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/s/ Fox Rothschild LLP |
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors
BIO-key International, Inc.:
We hereby consent to the incorporation by reference in this Registration Statement on Form S-8, of our report dated March 29, 2021, with respect to the consolidated balance sheets of BIO-key International, Inc. and its subsidiaries as of December 31, 2020 and December 31, 2019, and the related consolidated statements of operations, stockholders’ equity (deficit) and cash flows for each of the years then ended, which report is included in the December 31, 2020 Annual Report on Form 10-K of BIO-key International, Inc.
/s/ Rotenberg Meril Solomon Bertiger & Guttilla, P.C.
Saddle Brook, New Jersey
June 29, 2021
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