SKYX Platforms Corp. (SKYX) Form 8-K — Oct 14, 2026
$SKYXForm 8-KItems 1.01, 2.01, 2.03, 3.02, 9.01Filed Oct 14, 2026, 9:00 AM ET0001493152-26-046938Original filing
SKYX Platforms Corp. completed its merger with smart-lighting company Deako, Inc. on October 13, 2026, making Deako a wholly-owned subsidiary via Lumineer Merger Sub under the merger agreement dated September 9, 2026. Consideration included 25,000,000 SKYX shares held in escrow under a 12-month lock-up (released 25% at each of months 12, 15, 18, and 21) plus $12,500,000 paid on behalf of Deako to satisfy its existing senior notes: $4,000,000 in cash and an $8,500,000 senior secured promissory note.
Key figures
- Debt Amount
- 8500000
- Deal Value Usd
- 12500000
- Interest Rate
- 12
- Shares Offered
- 25000000
- Lockup period
- 12 months, released in 25% tranches at 12/15/18/21 months
- Cash paid total
- $4,000,000 ($2,000,000 on signing, $2,000,000 at closing)
- Note initial payment
- $2,250,000 due 120 days after Closing
- Default interest rate
- 17.00% (12.00% + 5.00%)
- Note maturity payment
- $6,250,000 due 12-month anniversary of Closing
- Post merger ownership deako shareholders
- 15.6%
- Post merger ownership existing shareholders
- 84.4%
AI analysis
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