SKYX Platforms Corp. (SKYX) Form 8-K — Sep 10, 2026
SKYX Platforms has signed a definitive merger agreement to acquire Deako, Inc., an AI smart home and lighting systems company based in Seattle, with Deako surviving as a wholly owned SKYX subsidiary. The deal was signed September 9, 2026 and must close by an October 31, 2026 outside date, subject to Deako securityholder approval. Consideration consists of 25,000,000 SKYX shares — 18.46% of shares outstanding — held in escrow with Wilmington Trust and sold through a Rule 10b5-1 plan to repay Deako's senior lenders $18,050,000 plus 12% interest, with 25% of the shares released every three months beginning 12 months after closing.
Key figures
- Debt Amount
- 8500000
- Interest Rate
- 12
- Maturity Date
- $2,250,000 due 120 days after closing; remainder due on the 12-month anniversary of closing
- Escrow Agent
- Wilmington Trust, National Association
- Outside Date
- October 31, 2026
- Broker Shares
- 250000
- Merger Shares
- 25000000
- Ire Floor Price
- 4
- Closing Cash Payment
- 2000000
- Signing Cash Payment
- 2000000
- Lockup Release Schedule
- 25% of merger shares released at 12, 15, 18, and 21 months after closing
- Retention Plan Payments
- 1500000
- Total Cash To Senior Lenders
- 4000000
- Non Accredited Holder Cash Pool
- 90000
- Senior Lender Priority Payment
- $18,050,000 plus 12% simple interest from closing
- Immediate Release Price Trigger
- 5
- Merger Shares Percent Of Outstanding
- 18.46%
- Max Net Working Capital Deficit At Closing
- 5000000
Price after filing
Close on the filing date to close N calendar days later (from $1.32). Historical, not a forecast.
AI analysis
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