SKYX Announces Closing of Merger with Leading AI Smart Home Technology Company Deako, Positioning the Combined Company to Become a Leader in the AI Smart Home Market
The merger adds a builder customer base while leaving existing SKYX shareholders with 84.4% ownership and adding secured debt.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
SKYX Platforms (NASDAQ: SKYX) closed its merger with smart home technology company Deako, issuing 25,000,000 common shares as consideration. Existing SKYX shareholders own 84.4% of the combined company; Deako shareholders and its lender collectively own 15.6%. The shares carry a 21-month lock-up and release agreement, including a 12-month full lock-up.
SKYX paid Deako’s senior lender $2M at signing on September 9, 2026, and $2M at closing, and issued an $8.5M secured promissory note payable in 2027. The combined estimated pipeline exceeds 4 million units, with an expected average selling price of approximately $50 per product. SKYX expects annual overlapping expense savings exceeding $6 million and an opportunity to increase Deako’s revenue per home by up to five-fold. Deako supplies over 50 U.S. home builders, providing a footprint through which SKYX expects to accelerate product deployment.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointDeako merger completed, adding its customer base of over 50 U.S. home builders to SKYX.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Estimated combined pipeline exceeds 4 million units, with expected average selling price of approximately $50 per product.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Expected annual expense savings exceed $6 million, supporting expected Deako profitability and SKYX’s cash-flow-positive goal.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Revenue per home opportunity of up to five-fold is expected from adding SKYX’s full product line.
- Minor pointD.R. Horton and Stone Martin supply agreements were recently extended by the acquired business.
2 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Builder deployment acceleration is expected through Deako’s footprint; its products also gain opportunities in SKYX hotel and Smart City projects.
- Minor point. Forward-looking: it has not happened yet and may not happen.Future recurring revenue opportunities are expected from product interchangeability, AI services, monitoring, subscriptions and licensing.
Negative
- Moderate point25,000,000 common shares issued leave existing SKYX shareholders owning 84.4%; Deako shareholders and lender collectively own 15.6%.
- Minor point. Forward-looking: it has not happened yet and may not happen.$8.5M secured promissory note requires $2.25M in Q1 2027 and $6.25M in Q4 2027.
- Minor point$2M paid at signing on September 9, 2026, and another $2M at closing to Deako’s senior lender.
News Explained
The additional historical scale disclosed here is Deako’s report that it shipped over 32 million units and generated over
Details
Market move: SKYX -4.87% vs previous close. Deako merger closing
On Oct 14, the day this news came out, the latest delayed price for SKYX is 4.87% below the previous close. Our momentum scanner has recorded 7 alerts for this stock so far that day. The latest delayed price is $1.07. Relative volume is exceptionally heavy at 5.4x the average.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
- Post-merger ownership
- 84.4% / 15.6%
- Current SKYX shareholders / Deako shareholders and lender
- Shares issued
- 25,000,000 shares
- Merger consideration; subject to a 21-month lock-up and leak-out agreement
- Payment at closing
- $2 million
- Paid to Deako's senior lender
- Secured promissory note
- $8.5 million
- Issued to Deako's senior lender
- Note repayment schedule
- $2.25 million in Q1 2027; $6.25 million in Q4 2027
- Payments on the $8.5 million note
- Annual expense reduction
- Over $6 million
- Expected savings from overlapping expenses
- Combined pipeline
- Exceeding 4 million units
- Estimated combined-company pipeline
- Deako revenue
- Over $26 million
- 2025
Previous Acquisition,AI Reports
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SKYX signed Deako merger terms involving 25 million shares, cash payments and an $8.5 million note.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
rule 10b5-1 trading plan financial
secured promissory note financial
leak-out agreement financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Combined Companies Have an Estimated Pipeline Exceeding 4 Million Units, with an Expected Average Selling Price of Approximately
Deako is a Leading Technology Supplier to Over 50 U.S. Home Builders Including D.R. Horton and Toll Brothers, Among Others
MIAMI, Oct. 14, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), an award-winning, highly disruptive advanced safe-smart home and AI platform technology company with over 120 U.S. and global pending and issued patents, with a mission to make homes and buildings advanced, safe and smart instantly as the new standard, today announced the closing of its merger with Deako, Inc., a Silicon Valley-backed U.S. smart home technology company. The combined company aims to lead the AI smart home, builder and hotel markets with its plug & play smart home and AI platform technologies.
Merger Highlights and Economics
- Post merger, current SKYX’s shareholders own
84.4% of the Company and Deako’s shareholders and lender collectively own15.6% . - Deako’s Lead Investors include Paul Jacobs, former Chairman and CEO of Qualcomm; Deako’s Former Board Member Marwan Fawaz was the former CEO of Nest (Google).
- The combined SKYX and Deako pipeline is estimated at over 4 million units with an expected average selling price of approximately
$50 per product. - Synergies between SKYX and Deako are expected to save over
$6 million in overlapping annual expenses. - SKYX’s full product line is expected to create an opportunity to increase Deako’s revenue per home by up to five-fold.
- Deako has recently extended it supply agreement with leading builders D.R. Horton and Stone Martin.
- Deako has shipped over 32 million units, including its smart plug-in wall switches, and generated over
$26 million in revenue in 2025. - The SKYX Deako combined estimated expense reduction of over
$6 million annually is expected to move Deako into profitability as well as support SKYX’s goal of becoming cash flow positive. - SKYX Deako merger is expected to provide future recurring revenue opportunities from plug & play product interchangeability, AI services, monitoring, subscriptions, licensing, among others.
- Deako is a leading technology supplier to the builder market, and its customers include over 50 U.S. home builders, including D.R. Horton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes and Schumacher Homes, among others.
- Deako, Inc. is a smart home and intelligent lighting company with 20 U.S. and global issued and pending patents for plug & play smart and AI-activated lighting wall switches.
- The merger expands SKYX’s collective patent portfolio to over 120 patents and pending applications related to platforms, smart home, AI and plug & play products.
- The merger between SKYX and Deako will enable SKYX to offer an A-to-Z AI and smart home plug & play solution for homes and buildings including wall outlets, wall switches and ceiling outlet boxes for smart home and safety products, lighting, ceiling fans, smoke detectors, among others.
- Most smart home solutions today require time-consuming and costly wired installation and address only part of the A-to-Z opportunity, while the combined company aims to offer a complete A-to-Z AI and plug & play smart home solution.
- The merger is expected to fast-track SKYX’s technologies and products into Deako’s builder footprint of over 50 U.S. home builders, including those named above.
- The merger opens the door for Deako’s products in SKYX projects, including Marriott and European hotels and Miami’s
$4 billion Smart City. - The merger is expected to provide deployment opportunities of millions of combined products into the builder, hotel and pro markets, and future recurring revenue opportunities from plug & play product interchangeability, AI services, monitoring, subscriptions, licensing, among others.
- As consideration for the merger, SKYX issued 25,000,000 shares of common stock, subject to a 21-month lock-up and leak-out agreement, with a 12-month full lock-up, followed by quarterly releases after 12 months, 15 months, 18 months, and 21 months after the closing, with share sales subject to a Rule 10b5-1 trading plan. Post merger, current SKYX’s shareholders own
84.4% of the Company and Deako’s shareholders and lender collectively own15.6% . - SKYX paid Deako’s senior lender
$2M at signing on September 9, 2026, and$2M at closing, and issued an$8.5M secured promissory note, with$2.25M payable in Q1 2027 and the remaining$6.25M payable in Q4 2027. - Based on its safety features, SKYX’s plug & play ceiling outlet receptacle system has in recent years received approval votes from leading U.S. building safety standards organizations including 10 segments in the NFPA-NEC code book (National Fire Protection Association / National Electrical Code) and its specifications received an approval vote as an ANSI/NEMA standard.
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “The close of the SKYX Deako merger is a major step forward in our mission to make advanced, safe, smart homes and buildings the new standard. Combining our complementary technologies, extensive patent portfolios, and established market relationships, we believe we are creating the most comprehensive A to Z smart home and AI platform in the industry. Importantly, Deako’s track record with 50 prominent U.S. builders provides an opportunity to significantly accelerate SKYX’s builder market penetration, creating a meaningful long-term value for our shareholders.”
Derek Richardson, Founder and CEO of Deako, Inc., stated: “We are excited for the official closing of the SKYX Deako merger. In Deako, we bring a consistent business track record with more than 50 U.S. home builders and over 32 million units shipped, and SKYX brings a broad patent technology portfolio of plug & play and smart home and AI platforms, complemented by its growing market penetration into the hotel and builder segments. Together, we see a significant opportunity to increase revenue per home by as much as five-fold and to create long-term value for SKYX shareholders.”
For more information about Deako: Click Here
For a video demo of SKYX’s technologies: Click Here
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings safe, advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 120 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home décor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://www.skyx.com/ or follow us on LinkedIn.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and statements include, but are not limited to, risks relating to the merger, including risks arising from the diversion of management’s attention from the Company’s ongoing business operations, an increase in the amount of costs, fees and expenses and other charges related to the merger agreement or the merger, the outcome of any litigation that the Company or Deako may become subject to relating to the merger, the extent of, and the time necessary to obtain, any regulatory approvals that may be required, risks of disruption to the Company’s business as a result of the public announcement of the merger, the occurrence of any event, change or other circumstance that could give rise to the termination of agreements relating to the merger, including due to a failure of any condition to the of the merger to be satisfied or waived by the applicable party, a decline in the market price for the Company’s common stock, risks that the merger disrupts current plans and operations of the Company or Deako and potential difficulties in Company or Deako employee retention as a result of the merger, the Company’s ability to pay the interest and principal on the promissory notes to be issued in connection with the merger, and the ability to implement business plans, forecasts and other expectations after the completion of the merger, realize the intended benefits of the merger, and identify and realize additional opportunities following the merger. Such risks and uncertainties also include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s ability to expand its market presence and control the market following the merger with Deako; the Company’s ability to achieve positive cash flows; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor Relations Contacts:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com
Ronald A. Both
Encore Investor Relations
rb@encore-ir.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de71691f-a0b8-4eb9-bdf8-2b36459d8f07
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did SKYX issue to complete the Deako merger?
SKYX issued 25,000,000 common shares as merger consideration. After the merger, existing SKYX shareholders own 84.4% of the company, while Deako shareholders and its lender collectively own 15.6%.
What savings does SKYX expect from the Deako merger?
SKYX expects over $6 million in annual overlapping expense savings. The company expects those reductions to move Deako into profitability and support SKYX’s goal of becoming cash flow positive.