SKYX Platforms Corp. (SKYX): debt financing — SKYX extends $7.6M notes to 2030, secures $2M new capital from lead investor

SKYX Platforms Corp.

Restructured four convertible notes totaling $7.6M into $9.6M of new 5-year notes due Oct 17, 2030.
Obtained $2M additional proceeds from existing investor for general working capital.
New notes carry 10% interest (7% cash, 3% cash or stock) and convertible at $1.20 per share.
Prior notes of $6M and $900k fully cancelled; new $8.9M note plus $0.7M in amended notes issued.
Conversion subject to 4.99%/9.99% beneficial ownership limitation; shares unregistered under Section 4(a)(2).

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

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 $9.6 million at 10% per annum maturing October 17, 2030.

Instrument: convertible notes
Principal: $9.6 million
Rate: 10% per annum
Maturity: October 17, 2030
Event: incurrence

Exact text from the filing

the Company will have a total of $9.6 million in 5-year subordinated secured convertible promissory notes by issuing a new note in the total principal amount of $8.9 million and amending two of the outstanding notes with the principal amount of $700,000 for a 5-year term (collectively, the “$9.6 Million Notes”).

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

SKYX Platforms Corp. issued convertible note to one of its lead existing investors for $2 million in additional capital.

Security: convertible note
Purchaser: one of its lead existing investors
Consideration: $2 million in additional capital

Exact text from the filing

the Company restructured and extended the maturity date of four outstanding convertible promissory notes with an aggregate principal balance of $7.6 million by 5 years to October 17, 2030, and secured $2 million in additional capital from one of its lead existing investors, pursuant to a Securities Purchase Agreement

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SKYX Platforms Corp. filing history →

Source: SEC EDGAR

accession 0001493152-25-018513

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