secwatch.observer — SEC 8-K summary
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Issuer:     SKYX Platforms Corp. (SKYX)
CIK:        0001598981
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001493152-23-003799
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SKYX signs deal to acquire Belami with $86M revenue; $8.1M private placement closed
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/0001493152-23-003799-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1598981/000149315223003799/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-003799

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer