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 convertible notes of $1.0 million with GE Trademark Licensing, Inc. at no interest bearing maturing April 11, 2027.
- Instrument
- convertible notes
- Principal
- $1.0 million
- Counterparty
- GE Trademark Licensing, Inc.
- Rate
- no interest bearing
- Maturity
- April 11, 2027
- Event
- incurrence
Exact text from the filing
reduced a payment of $1.4 million due to GE Trademark Licensing, Inc. (“GE-TL”) by $400,000, in exchange for a 3-year no interest bearing convertible promissory note of $1.0 million (the “Note”) to GE-TL, with a conversion price of $1.07 per share. The Note was signed on April 11, 2024, and matures on April 11, 2027. On December 8, 2023, the Company filed a
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
SKYX Platforms Corp. amended Amendment to Letter Agreement with GE Trademark Licensing, Inc. valued at amendment extending deadline for issuing convertible note to May 1, 2024 (effective 2024-04-11).
- Action
- amendment
- Counterparty
- GE Trademark Licensing, Inc.
- Value
- amendment extending deadline for issuing convertible note to May 1, 2024
- Effective
- 2024-04-11
Exact text from the filing
On April 11, 2024, the Company entered into an amendment to the Letter Agreement, which extended the deadline for the Company to issue the convertible note to GE-TL to May 1, 2024, and issued the Note, reflecting a reduction in payments due.
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