secwatch.observer — SEC 8-K summary
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Issuer:     SKYX Platforms Corp. (SKYX)
CIK:        0001598981
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001493152-23-014865
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SKYX Platforms completes acquisition of Belami for $7M cash plus 1.92M shares
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- Purchase price: $7M cash (plus $1M released from escrow) and 1,923,285 shares of SKYX common stock at closing.
- Deferred consideration: $3.1575M cash and shares valued at $5.639M due April 28, 2024, with per-share collar of $3-$4.
- Belami issued $1M 90-day promissory notes and $464,669 1-year notes to sellers, both at 4.86% interest; guaranteed by SKYX.
- Equity awards to Belami employees/consultants: 735,375 RSUs vesting April 2024; 568,927 restricted shares immediate; 150k RSUs vesting over 3 years; 150k options.
- Financial statements of Belami to be filed by amendment within 71 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1598981/000149315223014865/0001493152-23-014865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1598981/000149315223014865/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-014865

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