MergerOct 14, 2026, 09:01 AM
SKYX Platforms Completes Merger with Deako, Issues $8.5M Note
AI Summary
SKYX Platforms Corp. announced the completion of its merger with Deako, Inc. on October 13, 2026, with Deako becoming a wholly-owned subsidiary. The transaction involved the issuance of 25,000,000 shares of SKYX common stock, subject to a 12-month lock-up, and a cash payment of $4,000,000 to Deako's Senior Lenders. Additionally, SKYX issued an $8,500,000 senior secured promissory note to the Senior Lenders, with staggered maturity dates and a 12.0% annual interest rate. Post-merger, SKYX shareholders will hold approximately 84.4% of the combined entity, while former Deako shareholders will hold approximately 15.6%.
Key Highlights
- SKYX Platforms Corp. completed its merger with Deako, Inc. on October 13, 2026.
- The Company issued 25,000,000 shares of common stock as part of the merger consideration, subject to a 12-month lock-up.
- Post-merger, existing SKYX shareholders own approximately 84.4% and Deako shareholders own approximately 15.6%.
- SKYX paid $4,000,000 in cash to Deako's Senior Lenders, with $2,000,000 paid at closing.
- A senior secured promissory note of $8,500,000 was issued to Senior Lenders, bearing 12.0% annual interest.
- The Promissory Note has $2,250,000 due in 120 days and the remaining $6,250,000 due on the 12-month anniversary of closing.
Price Impact
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