SKYX completes Deako merger; issues 25M shares, $8.5M note at 12%; SKYX holders keep 84.4%

SKYX Platforms Corp.

Closed merger with Deako, Inc. on Oct 13, 2026; issued 25,000,000 SKYX shares subject to 12-month lock-up with 25% releases at 12, 15, 18, 21 months.
Post-merger ownership: pre-deal SKYX holders ~84.4%, Deako former shareholders ~15.6%; Merger Shares held in escrow and sold by Senior Lenders via Rule 10b5-1 plan.
Paid Senior Lenders $4M cash ($2M Sept 9, 2026; $2M at closing) plus an $8.5M senior secured promissory note; total $12.5M on behalf of Deako.
Note carries 12.0% fixed interest; $2.25M due 120 days after closing and $6.25M at the 12-month anniversary; secured by SKYX personal property; holders MassMutual and MassMutual Ascend.
Note default rate is 17%; events of default include Nasdaq delisting, change of control, and cross-default on debt over $1M.

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