---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-058605"
form_type: "8-K"
ticker: "SKYE"
cik: "0001516551"
company_name: "Skye Bioscience, Inc."
filed_at: "2026-08-24T20:02:08+00:00"
generated_at: "2026-08-24T20:03:16.619900+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Skye Bioscience enters $22M ELOC with Redmile; warrant for $5M shares

## Summary
- ELOC facility up to $22M for common/non-voting common stock; $2M/month cap over 3-year term, pricing at lesser of PIPE price or Market Price (floor 90% of PIPE price).
- ELOC reduced if Funded PIPE Amount exceeds $103M and eliminated entirely if it reaches $125M.
- Warrant for $5M / PIPE Price shares issued at closing; exercisable Jan 1, 2027 through Jan 1, 2030 at floor 90% of PIPE price, subject to 9.99% beneficial ownership limit.
- Issuance capped at 19.99% of outstanding shares (7,080,740) unless stockholder approval obtained or average price ≥ $0.2804.
- Registration Rights Agreement requires S-1 filing within 10 business days of closing; facility terminates on Redx transaction close or completion of other financings.

## SEC filing metadata
- accession: 0001628280-26-058605
- form_type: 8-K
- ticker: SKYE
- cik: 0001516551
- company_name: Skye Bioscience, Inc.
- filed_at: 2026-08-24T20:02:08+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1516551/000162828026058605/0001628280-26-058605-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1516551/000162828026058605/skye-20260821.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-058605
- JSON: https://secwatch.observer/filing/0001628280-26-058605.json
- Plain text: https://secwatch.observer/filing/0001628280-26-058605.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.