secwatch.observer — SEC 8-K summary
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Issuer:     SKYX Platforms Corp. (SKYX)
CIK:        0001598981
Form:       8-K
Filed at:   2026-10-14T13:00:09+00:00
Accession:  0001493152-26-046938
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1598981/000149315226046938/0001493152-26-046938-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1598981/000149315226046938/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-046938

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