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AI brief of an SEC Form 8-K · SKYX Platforms Corp. (SKYX)

SKYX signs merger agreement to acquire Deako for 25 million shares and cash

Neutral Impact 5 of 5 m&a Written later

SKYX Platforms signed a merger agreement on September 9, 2026, under which Deako, a Seattle-based AI smart home and lighting systems company, will become a wholly owned subsidiary. SKYX will issue 25,000,000 shares, or 18.46% of its outstanding common stock, plus $4 million in cash and $8.5 million in senior secured notes to Deako's senior lenders, and closing requires Deako securityholder approval. The filing does not include SKYX or Deako financial results beyond a press release statement that Deako had over $26 million in 2025 revenue, so shareholders face dilution and new debt without a stated effect on SKYX's profit.

Key points

  • Consideration: 25,000,000 common shares (18.46% of outstanding), with a 12-month lock-up and releases of 25% each at 12, 15, 18 and 21 months after closing, held in escrow for Deako's senior lenders.
  • Cash: $4 million total, of which $2 million was paid at signing and $2 million is due at closing.
  • Notes: $8.5 million senior secured promissory notes at 12.0% per annum; $2.25 million due 120 days after closing and the remainder due on the 12-month anniversary of closing.
  • Termination right if closing conditions are not met or waived by October 31, 2026; closing also requires Deako securityholder approval.

The filing

CompanySKYX Platforms Corp. (SKYX)
Form8-K, current report
Filed with the SECSep 10, 2026, 8:32 AM ET
Accession number0001493152-26-042086

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 10, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.