During Thursday’s extended session, BIO-key International, Inc. (NASDAQ: BKYI) had a huge increase in its price, rising 17.78% to $4.24. The shares of BIO-key increased 16.51% to $3.60 during the regular session. The agreement of a strategic cooperation fueled the after-hour drive in BKYI shares.
BIO-key International, Inc. (NASDAQ: BKYI) has declared that Carrefour, a prominent international retailer, would be using BIO-key’s cloud-based AuthControl Sentry system in Spain. The integration will be carried out in association with BIO-key’s Swivel Secure Europe subsidiary and Evolutio, a reputable partner. Carrefour’s continuous dedication to data protection and operational excellence includes this strategic partnership.
AuthControl Sentry plays a crucial role in protecting Carrefour’s 6,500 Spanish workers’ authentication procedure. The solution upholds the company’s commitment to the highest levels of data security and privacy while safeguarding access to vital services.
A significant accomplishment is the deployment of the AuthControl Cloud Sentry system in Spain by Carrefour, a well-known international retailer. This partnership, which was made possible by BKYI’s partner Evolutio, demonstrates the solutions’ security, adaptability, and dependability in addressing the intricate cybersecurity requirements of big businesses.
Top-tier security solutions from BIO-key Europe enable companies like Carrefour to function resiliently and with confidence in an increasingly digital environment. Its AuthControl system guarantees the highest level of security for its clients, their staff, and sensitive data in addition to improving operational effectiveness.
Another recent event is that BKYI conducted a $550,000 private offering of shares at a premium to market and fully serviced its $2.2 million senior secured note, clearing all long-term debt. BKYI is working hard to position itself financially so that it may develop and perform better on the bottom line in 2024 and beyond.
During the last two months, $4.3 million in equity fundraising has been completed as part of these initiatives. In addition to strengthening BKYI’s cash and liquidity position, the proceeds from these transactions allowed it to redeem a $2.2 million note that AJB Capital Investments had issued and retained.
