Recent Updates — SKYX

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.

SKYX Platforms Corp. reported the death of independent board member Efrat L. Greenstein Brayer on September 26, 2026. Her passing caused the company to fall out of compliance with Nasdaq Listing Rules requiring a majority of independent directors and an audit committee of at least three members. Nasdaq granted a cure period expiring upon the next annual meeting or September 26, 2027, contingent on holding that meeting before March 25, 2027. The company intends to regain compliance but cannot assure success within the timeframe. This listing issue does not immediately affect its Nasdaq status. SKYX Platforms Corp. operates in the technology sector, specializing in digital marketing and advertising solutions.

SKYX Platforms Corp. entered into a merger agreement on September 9, 2026, to acquire Deako Inc., an AI smart home and lighting systems company based in Seattle. Under the terms, SKYX will issue 25,000,000 shares representing 18.46% of its outstanding stock, subject to a 12-month lockup with quarterly releases thereafter. The transaction includes $4 million in cash payments to Deako's senior lenders and the issuance of $8.5 million in secured promissory notes bearing 12.0% annual interest. Post-merger, SKYX shareholders will own approximately 84.4% of the combined entity. Deako reported over $26 million in revenue for 2025 and has shipped more than 32 million units. The deal is expected to close by October 31, 2026, subject to customary conditions including shareholder approval. SKYX Platforms Corp. operates in the smart home technology sector, providing AI-driven lighting and safety solutions.

SKYX Platforms Corp. reported financial results for the quarter ended June 30, 2026, announcing record second-quarter revenues of $25.3 million, a 14% increase from Q1 2026 and a 10% year-over-year rise. The company posted a net loss of $8.2 million ($0.06 per share), down from $8.8 million in the prior year period, while gross profit grew 4% to $7.3 million. Cash and cash equivalents increased to $27.7 million following a $29 million equity raise in January 2026. The company also highlighted strategic expansions into European hotel markets and partnerships with major U.S. retailers. SKYX Platforms Corp. operates in the smart home technology and lighting industry, developing patented safety and AI-driven home automation products.