Mergers & Acquisitions ·
Completes merger with Deako Inc., issuing 25M shares and $8.5M secured note
SKYXSKYX Platforms Corp.
SKYX Platforms Corp. completed its previously announced merger with Deako, Inc., making Deako a wholly-owned subsidiary. The Company issued 25,000,000 shares of common stock subject to a 12-month lock-up with quarterly releases, while post-merger shareholders will own approximately 84.4% and former Deako shareholders 15.6%. SKYX also paid $4,000,000 in cash to Senior Lenders on behalf of Deako and delivered a senior secured promissory note with an aggregate principal amount of $8,500,000 bearing interest at 12.0% per annum. The company operates in the technology sector.