{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-033459","form_type":"8-K","ticker":"SKYX","cik":"0001598981","company_name":"SKYX Platforms Corp.","filed_at":"2023-09-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.493887+00:00","generated_at":"2026-06-10T09:40:57.053856+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"SKYX subsidiary Belami enters $3M revolver and $1.5M term loan with Farmers & Merchants Bank","bullets":["$3.0M secured revolving line of credit, prime rate (floor 7.5%), matures Sept 5, 2024.","$1.5M term loan at 7.7% fixed, 36 monthly installments of $46,954.68, due Sept 5, 2026.","Prepayment fee on term loan: 3% in year one, declining 1% each year through year three.","Covenants: working capital >$1.25M, debt service coverage >1.25x, debt/worth <3.25x.","SKYX Platforms Corp. guarantees Belami's obligations under both facilities."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-033459","json":"https://secwatch.observer/filing/0001493152-23-033459.json","markdown":"https://secwatch.observer/filing/0001493152-23-033459.md","text":"https://secwatch.observer/filing/0001493152-23-033459.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1598981/000149315223033459/0001493152-23-033459-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1598981/000149315223033459/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T09:40:57.053856+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"47d227d7fa8b8d470dc15a7b337cb76d486911b7","claim":"SKYX Platforms Corp. incurred term loan of $1.5 million with Farmers & Merchants Bank of Central California at 7.7% maturing September 5, 2026.","evidence_excerpt":"and a $1.5 million term loan (the “term loan”) with Farmers & Merchants Bank of Central California","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1598981/000149315223033459/0001493152-23-033459-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$1.5 million"},{"label":"Counterparty","value":"Farmers & Merchants Bank of Central California"},{"label":"Rate","value":"7.7%"},{"label":"Maturity","value":"September 5, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"e3028890a624b5dcb6100da973dbccf494ceeac6","claim":"SKYX Platforms Corp. incurred revolving credit of $3.0 million with Farmers & Merchants Bank of Central California at The Wall Street Journal Prime Rate, subject to a floor of 7.5% maturing September 5, 2024.","evidence_excerpt":"Belami, Inc. (“Belami”), a wholly-owned subsidiary of SKYX Platforms Corp. (the “Company”), entered into a $3.0 million secured revolving line of credit (the “line of credit”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1598981/000149315223033459/0001493152-23-033459-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$3.0 million"},{"label":"Counterparty","value":"Farmers & Merchants Bank of Central California"},{"label":"Rate","value":"The Wall Street Journal Prime Rate, subject to a floor of 7.5%"},{"label":"Maturity","value":"September 5, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}