---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-015604"
form_type: "8-K"
ticker: "SKYX"
cik: "0001598981"
company_name: "SKYX Platforms Corp."
filed_at: "2023-05-05T23:59:59+00:00"
generated_at: "2026-06-15T16:50:28.769613+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# SKYX Platforms secures $2.0M secured revolving line of credit with First-Citizens Bank

## Summary
- $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.

## SEC filing metadata
- accession: 0001493152-23-015604
- form_type: 8-K
- ticker: SKYX
- cik: 0001598981
- company_name: SKYX Platforms Corp.
- filed_at: 2023-05-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1598981/000149315223015604/0001493152-23-015604-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1598981/000149315223015604/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-015604
- JSON: https://secwatch.observer/filing/0001493152-23-015604.json
- Plain text: https://secwatch.observer/filing/0001493152-23-015604.txt

## Key facts
- Debt Financings
  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
  source text: On May 1, 2023, the Company entered into a $2.0 million secured revolving line of credit with First-Citizens Bank & Trust Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223015604/0001493152-23-015604-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223015604/0001493152-23-015604-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.