SKYX Platforms (SKYX) SEC Filings

SKYX Platforms Corp. is registering up to 25,250,000 shares of common stock for resale by selling securityholders from time to time after the registration statement becomes effective. The shares were issued in connection with its October 13, 2026 merger with Deako; consideration included cash and 25,000,000 SKYX shares, and SKYX separately issued 250,000 shares to Deako’s broker. SKYX will not receive proceeds from the selling holders’ sales. The registered shares represent approximately 18.28% of common shares outstanding as of October 12, 2026, before the merger closing and issuance.

The covered shares are subject to transfer restrictions expiring in four equal 25% tranches at 12, 15, 18 and 21 months after closing, subject to exceptions. SKYX also reports it is not in compliance with Nasdaq board-independence and audit-committee requirements following the September 26, 2026 death of independent director Efrat L. Greenstein Brayer. The cure period ends at the earlier of the next annual meeting or September 26, 2027; if the meeting occurs before March 25, 2027, compliance must be evidenced by March 25, 2027. Failure to regain compliance would prompt Nasdaq to notify SKYX that its common stock is subject to delisting.

SKYX Platforms Corp. completed its merger with Deako, Inc. on October 13, 2026, making Deako a wholly owned subsidiary. SKYX issued 25,000,000 common shares, held in escrow on behalf of Deako shareholders and certain senior lenders. Post-merger ownership is approximately 84.4% for SKYX’s current shareholders and 15.6% for Deako’s former shareholders. The shares are subject to a 12-month lock-up, with 25% released at each of 12, 15, 18 and 21 months after closing.

SKYX paid the senior lenders $4,000,000 on Deako’s behalf: $2,000,000 on September 9, 2026, and $2,000,000 at closing. It also delivered an $8,500,000 senior secured promissory note bearing 12.0% annual interest and secured by SKYX’s personal property. $2,250,000 of principal is due 120 days after closing, with the remaining amount due on the 12-month anniversary. The senior lenders agreed to sell the Merger Shares under a Rule 10b5-1 trading plan. Any remaining Merger Shares, if any, will be distributed to Deako’s pre-merger securityholders after the lenders receive sale proceeds and certain expenses, fees and indemnification claims are paid.

SKYX Platforms Corp. reported that independent director Efrat L. Greenstein Brayer died on September 26, 2026. She served on the audit and compensation committees and chaired the nominating and corporate governance committee. After her death, SKYX notified Nasdaq that it no longer met the requirement for a majority-independent board or the requirement for an audit committee of at least three members.

Nasdaq notified SKYX of a cure period ending at the earlier of its next annual meeting or September 26, 2027. If that meeting is held before March 25, 2027, SKYX must evidence compliance no later than March 25, 2027. SKYX intends to take action to regain compliance, but said there can be no assurance it will do so within the applicable period. The notice has no immediate effect on its Nasdaq listing, subject to compliance with listing rules.

SKYX Platforms Corp. President Steven Mark Schmidt had 5,930 common shares withheld on September 30, 2026, to satisfy tax withholding obligations tied to vesting of restricted stock units; the transaction lists a price of $1.15 per share. His reported post-transaction holding was 445,874 shares, including 80,000 RSUs scheduled to vest in quarterly installments of 20,000 beginning December 31, 2026, subject to continued employment.

SKYX Platforms Corp. reported that Chief Executive Officer and director Leonard J. Sokolow had 19,673 shares of common stock withheld on September 12, 2026 to satisfy tax withholding obligations related to vesting restricted stock units at $1.35 per share. Following this tax-withholding disposition, he holds 931,149 common shares directly, including 167,500 RSUs that vest over future dates. The filing also lists multiple outstanding stock options, a subordinated convertible promissory note convertible at $3.00 per share, and 10,000 shares of Series A-1 Preferred Stock convertible into 208,334 common shares. No Rule 10b5-1 trading plan is reported.

SKYX Platforms Corp. (SKYX) filed a Form D for an exempt offering of equity securities in connection with its acquisition of Deako, Inc. The offering relies on Rule 506(b) of Regulation D and is structured as stock consideration in a merger transaction rather than a cash capital raise.

The filing reports a total amount sold of $25,250,000, representing the aggregate value of 25,000,000 shares of SKYX common stock to be issued as merger consideration and 250,000 shares to be issued to a broker of the target. This is a new notice, with the first sale reported as occurring on September 9, 2026, and no remaining amount to be sold. The issuer declined to disclose its revenue range and reports no finders’ fees.

SKYX Platforms Corp. (SKYX) entered into an Agreement and Plan of Merger to acquire Deako, Inc., an AI smart home and lighting systems company, through a merger in which Deako will become a wholly owned subsidiary. As consideration, SKYX will issue 25,000,000 shares of common stock, equal to 18.46% of its outstanding shares, plus cash payments and debt financing.

Deako’s senior lenders will initially hold the merger shares in escrow under a Rule 10b5-1 trading plan, subject to a 12‑month lockup followed by staged releases at 12, 15, 18 and 21 months after closing. SKYX will pay Deako’s senior lenders $4.0 million in cash and issue $8.5 million of senior secured promissory notes bearing 12.0% annual interest, with portions due 120 days and 12 months after closing. Closing is subject to customary conditions, including Deako securityholder approval, and the merger agreement may be terminated if conditions are not met or waived by October 31, 2026.

SKYX Platforms Corp. received an updated institutional ownership report on its common stock. Alyeska Investment Group, L.P., Alyeska Fund GP, LLC, and Anand Parekh together report beneficial ownership of 1,555,509 shares of SKYX common stock, representing 1.16% of the class. The group has no sole voting or dispositive power but holds shared voting and shared dispositive power over all 1,555,509 shares. This amendment reflects that the filers now own 5 percent or less of the outstanding common stock, and it is being made as a joint filing under a joint filing statement.

SKYX Platforms Corp. reported higher sales but continued losses for the quarter and six months ended June 30, 2026. Revenue for the six months rose to $47.4 million from $43.2 million, driven mainly by greater unit sales of lighting and heating products, including early contributions from advanced and smart offerings.

Total operating expenses for the six months increased to $62.6 million, keeping the business unprofitable, with a six‑month net loss of $17.5 million and adjusted EBITDA of $(7.4) million. Nonetheless, the balance sheet strengthened: cash, cash equivalents and restricted cash increased to $27.7 million, total assets to $74.1 million, and stockholders’ equity turned positive at $13.7 million, supported by $27.4 million in net equity issuance and warrant exercises. Total debt, mainly convertible notes, declined modestly to $17.3 million. The company continues to invest heavily in share‑based compensation and marketing as it scales its smart‑platform product strategy while operating with negative operating cash flow.