--- schema_version: "secwatch.filing_event.v1" accession: "0001493152-23-003799" form_type: "8-K" ticker: "SKYX" cik: "0001598981" company_name: "SKYX Platforms Corp." filed_at: "2023-02-07T23:59:59+00:00" generated_at: "2026-06-19T22:55:03.812474+00:00" event_type: "other_material" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # SKYX signs deal to acquire Belami with $86M revenue; $8.1M private placement closed ## Summary - Acquires Belami Inc., an e-commerce lighting conglomerate with $86M in revenues and 64 websites. - Total consideration: up to 5,223,991 SKYX shares plus $8M cash at close and $4M deferred cash. - Cash portion fully funded by two major existing investors via $8.1M convertible note private placement with 50% warrant coverage. - SKYX will assume Belami's $2M revolving line and ~$2.5M term loan from PNC Bank. - Closing expected in coming months subject to conditions; $1M deposit placed into escrow. ## SEC filing metadata - accession: 0001493152-23-003799 - form_type: 8-K - ticker: SKYX - cik: 0001598981 - company_name: SKYX Platforms Corp. - filed_at: 2023-02-07T23:59:59+00:00 - event_type: other_material - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.03, 3.02, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/0001493152-23-003799-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/form8-k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001493152-23-003799 - JSON: https://secwatch.observer/filing/0001493152-23-003799.json - Plain text: https://secwatch.observer/filing/0001493152-23-003799.txt ## Key facts - Debt Financings SKYX Platforms Corp. incurred term loan of a term loan of approximately $2.5 million with PNC Bank, National Association at not disclosed maturing not disclosed. - Instrument: term loan - Principal: a term loan of approximately $2.5 million - Counterparty: PNC Bank, National Association - Rate: not disclosed - Maturity: not disclosed - Event: incurrence source text: The Company also agreed to assume Belami’s loan agreement with PNC Bank, National Association, consisting of a $2.0 million revolving line of credit and a term loan of approximately $2.5 million. evidence_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/0001493152-23-003799-index.htm - Debt Financings SKYX Platforms Corp. incurred revolving credit of a $2.0 million revolving line of credit with PNC Bank, National Association at not disclosed maturing not disclosed. - Instrument: revolving credit - Principal: a $2.0 million revolving line of credit - Counterparty: PNC Bank, National Association - Rate: not disclosed - Maturity: not disclosed - Event: incurrence source text: The Company also agreed to assume Belami’s loan agreement with PNC Bank, National Association, consisting of a $2.0 million revolving line of credit and a term loan of approximately $2.5 million. evidence_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/0001493152-23-003799-index.htm - Debt Financings SKYX Platforms Corp. incurred convertible notes of subordinated secured convertible promissory notes in the aggregate principal amount of $8.1 million with certain existing Company investors at not disclosed maturing not disclosed. - Instrument: convertible notes - Principal: subordinated secured convertible promissory notes in the aggregate principal amount of $8.1 million - Counterparty: certain existing Company investors - Rate: not disclosed - Maturity: not disclosed - Event: incurrence source text: On February 6, 2023 (the “Closing Date”), the Company closed a private placement offering (the “Private Placement”) pursuant to a securities purchase agreement (the “Private Placement Agreement”) with certain existing Company investors, providing for the issuance and sale by the Company to such investors of (i) subordinated secured convertible promissory notes in the aggregate principal amount of $8.1 million (the “Notes”) evidence_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/0001493152-23-003799-index.htm - Material Agreements SKYX Platforms Corp. entered into Private Placement Agreement with certain existing Company investors valued at aggregate principal amount of $8.1 million (effective 2023-02-06). - Action: entry - Agreement: notes offering - Counterparty: certain existing Company investors - Value: aggregate principal amount of $8.1 million - Effective: 2023-02-06 source text: On February 6, 2023 (the “Closing Date”), the Company closed a private placement offering (the “Private Placement”) pursuant to a securities purchase agreement (the “Private Placement Agreement”) with certain existing Company investors, providing for the issuance and sale by the Company to such investors of (i) subordinated secured convertible promissory notes in the aggregate principal amount of $8.1 million evidence_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/0001493152-23-003799-index.htm - Material Agreements SKYX Platforms Corp. entered into Stock Purchase Agreement with stockholders of Belami, Inc. (effective 2023-02-06). - Action: entry - Agreement: asset purchase - Counterparty: stockholders of Belami, Inc. - Effective: 2023-02-06 source text: On February 6, 2023 (the “Signing Date”), SKYX Platforms Corp. (d/b/a Sky Technologies) (the “Company”) entered into the Stock Purchase Agreement (the “Stock Purchase Agreement”) with the stockholders (the “Sellers”) of Belami, Inc., a California corporation (“Belami”), pursuant to which the Company will acquire all of the issued and outstanding shares of Belami from the Sellers evidence_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/0001493152-23-003799-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.