-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FzIxUwMJEttnQEwKVosE5vRg4M3k+DAXsPea7t0MULanpkcdtOayeup5xRVYf6BW tsW+7e+ZAkdiYqviTufT/g== 0000950134-03-014023.txt : 20031027 0000950134-03-014023.hdr.sgml : 20031027 20031027131330 ACCESSION NUMBER: 0000950134-03-014023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031017 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031027 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DATAKEY INC CENTRAL INDEX KEY: 0000704914 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] IRS NUMBER: 411291472 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11447 FILM NUMBER: 03958044 BUSINESS ADDRESS: STREET 1: 407 W TRAVELERS TRAIL CITY: BURNSVILLE STATE: MN ZIP: 55337 BUSINESS PHONE: 6128906850 MAIL ADDRESS: STREET 1: 407 WEST TRAVELERS TRAIL CITY: BURNSVILLE STATE: MN ZIP: 55337 8-K 1 c80368e8vk.htm FORM 8-K e8vk
Table of Contents

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): October 17, 2003

Datakey, Inc.
 (Exact Name of Registrant as Specified in its Charter)

Minnesota
(State or Other Jurisdiction of Incorporation)

     
0-11447
(Commission File Number)		   41-1291472
(I.R.S. Employer Identification Number)

407 West Travelers Trail
Burnsville, Minnesota 55337
(Address of Principal Executive Offices) (Zip Code)

612-890-6850
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

 

Item 5. Other Events.
Item 7. Financial Statements and Exhibits.
SIGNATURES
EXHIBIT INDEX TO FORM 8-K
EX-99 Press Release

Table of Contents

Item 5. Other Events.

     On October 27, 2003, Datakey, Inc. issued a press release to announce that it has received $3,120,000 in financing. The full text of the press release is set forth in Exhibit 99 attached hereto and is incorporated in this Report as if fully set forth herein.

Item 7. Financial Statements and Exhibits.

  (a)   Financial statements: None.
 
  (b)   Pro forma financial information: None.
 
  (c)   Exhibits:

       Exhibit 99    Press release dated October 27, 2003.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: October 27, 2003

   
  DATAKEY, INC
       
  By   /s/ Alan G. Shuler
Alan G. Shuler
Vice President and Chief Financial Officer

 

Table of Contents

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

DATAKEY, INC.
 EXHIBIT INDEX TO FORM 8-K

     
Date of Report:   Commission File No.:
October 17, 2003   0-11447

DATAKEY, INC.

     
EXHIBIT NO.   ITEM
99   Press Release dated October 27, 2003

  EX-99 3 c80368exv99.htm EX-99 PRESS RELEASE exv99

 

EXHIBIT 99

Financial contact: Alan Shuler, Chief Financial Officer, Datakey, 952-808-2349, or alan.shuler@datakey.com

NEWS FOR IMMEDIATE RELEASE

Datakey Announces $3.12 Million In New Financing

MINNEAPOLIS, October 27, 2003 — Datakey, Inc. (Nasdaq: DKEY), a trusted developer of smart card solutions for securing e-business, announced today that it has obtained $3.12 million in new financing from a group of accredited investors including three of its largest existing shareholders. In two separate transactions, the Company received $1.12 million from the exercise of existing warrants and $2 million from a convertible debt financing.

Current holders of the Company’s 1,600,000 warrants issued in February, 2001 exercised all their warrants in connection with a re-pricing offer of $0.70 per share as more fully described in an amendment to the S-3 registration statement. The re-pricing offer included the grant of one new warrant priced at $0.77 per share for each warrant exercised.

The convertible debt has a term of 12 months, is secured by assets of the Company and is convertible into the Company’s common shares at $1.25 per share. Investors were also granted 4,000,000 warrants with an exercise price of $0.77 per share.

“We are pleased to have closed these financing transactions providing the funding required to accelerate the sales and marketing efforts for our new Datakey Axis product”, said Tim Russell, president and CEO of Datakey. “We are excited about the market reception for Datakey Axis and we now have the capital resources to execute our plan.”

The new financing proceeds are exclusive of expenses estimated to be $70,000. Based on current revenue levels this additional financing is sufficient to fund the Company’s operations for the next year. After one year the Company will be required to repay the $2,000,000 loan with new debt or equity financing or convert the loan to equity at the option of the loan investors. The Company can make no assurances that such new financing will be available at acceptable terms or at all.

About Datakey Inc.
 Datakey Inc. focuses on delivering complete smart card-based solutions that simplify access throughout the enterprise. Our solutions significantly increase the convenience and security for users logging into company resources by consolidating all digital credentials — including passwords, digital certificates, VPN credentials and biometric data — onto one smart card and automating access through a single sign-on. Datakey’s fully integrated smart card-based single sign-on systems allow our customers to automatically enforce stronger access controls while at the same time eliminating the need for the user to remember and manage multiple complex passwords.

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