secwatch.observer — SEC 8-K summary
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Issuer:     SKYX Platforms Corp. (SKYX)
CIK:        0001598981
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0001493152-24-037887
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SKYX subsidiary Belami enters $3.5M secured revolving credit line with Farmers & Merchants Bank
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- Belami, Inc. secured a $3.5M revolving line of credit from Farmers & Merchants Bank, increasing and renewing prior facility.
- Interest: variable at WSJ Prime rate (floor 7.5%), payable monthly; line matures September 5, 2025.
- Covenants require working capital over $1.75M and debt service coverage ratio above 1.25x.
- SKYX Platforms Corp. guarantees Belami's obligations under the credit agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1598981/000149315224037887/0001493152-24-037887-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1598981/000149315224037887/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-037887

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