SKYX Platforms Corp. (SKYX): debt financing — SKYX secures $3.25M new capital via restructuring $2.75M notes into $6M convertible note due 2030

SKYX Platforms Corp.

Restructured two existing convertible promissory notes with aggregate principal of $2.75M; maturity extended to September 2, 2030.
Received $3.25M incremental capital from a lead existing investor.
New subordinated secured convertible note totals $6M, convertible at $1.20 per share, bearing 10% interest (8% cash + 2% cash/shares at election).
Proceeds from the $3.25M new capital will be used for general working capital purposes.
Beneficial ownership limits restrict conversion to 4.99% or 9.99% of outstanding common stock at holder's election.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

SKYX Platforms Corp. incurred convertible notes of $6 million at 8% interest payable quarterly in arrears in cash and 2% interest payable quarter maturing September 2, 2030.

Instrument: convertible notes
Principal: $6 million
Rate: 8% interest payable quarterly in arrears in cash and 2% interest payable quarter
Maturity: September 2, 2030
Event: incurrence

Exact text from the filing

the Company entered into a new subordinated secured convertible promissory note (“Note”) in the total principal amount of $6 million

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37 debt financings filed in the last 30 days. Browse all debt financings →

SKYX Platforms Corp. filing history →

Source: SEC EDGAR

accession 0001493152-25-012759

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