SKYX Platforms Corp. (SKYX): debt financing — SKYX Platforms secures $2.0M secured revolving line of credit with First-Citizens Bank

SKYX Platforms Corp.

$2.0M secured revolving line of credit entered May 1, 2023, maturing May 1, 2024.
Interest rate: WSJ Prime + 0.25%, floor 5.0%, ceiling 18.0% (or max allowed by law).
Interest payable monthly; line subject to customary default and acceleration provisions.
The credit agreement filed as Exhibit 10.1; no other material terms disclosed.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SKYX Platforms Corp. incurred revolving credit of $2.0 million with First-Citizens Bank & Trust Company at The Wall Street Journal Prime Rate plus 0.250%, subject to a floor of 5.0% and c maturing May 1, 2024.

Instrument: revolving credit
Principal: $2.0 million
Counterparty: First-Citizens Bank & Trust Company
Rate: The Wall Street Journal Prime Rate plus 0.250%, subject to a floor of 5.0% and c
Maturity: May 1, 2024
Event: incurrence

Exact text from the filing

On May 1, 2023, the Company entered into a $2.0 million secured revolving line of credit with First-Citizens Bank & Trust Company

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SKYX Platforms Corp. entered into line of credit with First-Citizens Bank & Trust Company valued at $2.0 million (effective 2023-05-01).

Action: entry
Agreement: credit facility
Counterparty: First-Citizens Bank & Trust Company
Value: $2.0 million
Effective: 2023-05-01

Exact text from the filing

On May 1, 2023, the Company entered into a $2.0 million secured revolving line of credit with First-Citizens Bank & Trust Company (the “line of credit”).

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37 debt financings filed in the last 30 days. Browse all debt financings →

SKYX Platforms Corp. filing history →

Source: SEC EDGAR

accession 0001493152-23-015604

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