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

SKYX Platforms completes Deako merger, issuing 25 million shares and an $8.5 million note

Mixed Impact 5 of 5 m&a Written later

SKYX Platforms completed its merger with Deako, Inc. on October 13, 2026, making Deako a wholly-owned subsidiary. The Company issued 25,000,000 shares, which existing SKYX shareholders will own about 84.4% of post-merger, with Deako's former holders owning about 15.6%, and also took on an $8,500,000 senior secured promissory note at 12.0% interest. The share issuance adds substantial dilution for current shareholders, and the note adds a debt obligation, the Company's ability to repay which is listed as a risk factor.

Key points

  • Merger with Deako, Inc. closed October 13, 2026; 25,000,000 unregistered common shares issued
  • Post-merger ownership: current SKYX shareholders about 84.4%, former Deako shareholders about 15.6%
  • Senior secured promissory note of $8,500,000 at 12.0% per annum; $2,250,000 due 120 days after closing, remainder due at 12 months
  • Merger Shares subject to 12-month lock-up, with 25% released at 12, 15, 18 and 21 months after closing

The filing

CompanySKYX Platforms Corp. (SKYX)
Form8-K, current report
Filed with the SECOct 14, 2026, 9:00 AM ET
Accession number0001493152-26-046938

Items reported: 1.01 Material Definitive Agreement2.01 Acquisition or Disposition Completed2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale

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 October 14, 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.