---
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"
generated_at: "2026-06-10T09:40:57.053856+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# SKYX subsidiary Belami enters $3M revolver and $1.5M term loan with Farmers & Merchants Bank

## Summary
- $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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-033459
- JSON: https://secwatch.observer/filing/0001493152-23-033459.json
- Plain text: https://secwatch.observer/filing/0001493152-23-033459.txt

## Key facts
- Debt Financings
  SKYX Platforms Corp. incurred term loan of $1.5 million with Farmers & Merchants Bank of Central California at 7.7% maturing September 5, 2026.
  - Instrument: term loan
  - Principal: $1.5 million
  - Counterparty: Farmers & Merchants Bank of Central California
  - Rate: 7.7%
  - Maturity: September 5, 2026
  - Event: incurrence
  source text: and a $1.5 million term loan (the “term loan”) with Farmers & Merchants Bank of Central California
  evidence_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223033459/0001493152-23-033459-index.htm
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: $3.0 million
  - Counterparty: Farmers & Merchants Bank of Central California
  - Rate: The Wall Street Journal Prime Rate, subject to a floor of 7.5%
  - Maturity: September 5, 2024
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1598981/000149315223033459/0001493152-23-033459-index.htm

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