Watch for the 71-day amendment filing with Deako's financial statements and pro forma information to assess the combined entity's revenue and earnings profile. Also monitor the 10b5-1 trading plan by senior lenders, which could create selling pressure on SKYX shares as the lock-up releases begin in 12 months.
Price Chart
Executive Summary
SKYX Platforms Corp. completed its acquisition of Deako, Inc., issuing 25 million shares (15.6% pro forma ownership) and paying $4M in cash plus an $8.5M senior secured promissory note (12% interest) to Deako's senior lenders. The deal closes the previously announced merger, adding Deako's smart home platform and builder network but creating significant dilution for existing shareholders and adding $12.5M in cash/debt obligations.
Key Financial Metrics
Key Facts
- SKYX completed the acquisition of Deako, Inc. on October 13, 2026, making Deako a wholly-owned subsidiary.
- SKYX issued 25,000,000 shares of common stock (subject to a 12-month lock-up with staggered release) to Deako's former shareholders and senior lenders.
- Post-merger, existing SKYX shareholders own ~84.4% and former Deako shareholders own ~15.6% of the combined company.
- SKYX paid $4M in cash ($2M at signing, $2M at closing) and issued an $8.5M senior secured promissory note (12% interest) to Deako's senior lenders.
- The promissory note requires $2.25M payment at 120 days post-closing and $6.25M at 12 months, secured by all of SKYX's personal property.
- The senior lenders have agreed to sell the Merger Shares pursuant to a Rule 10b5-1 trading plan.
- Financial statements of the acquired business and pro forma financial information will be filed by amendment within 71 days.
Financial Impact
Total consideration of $12.5M ($4M cash + $8.5M note) plus 25M shares (15.6% of pro forma equity). The note bears 12% interest and is secured by all company assets. Dilution of ~18.5% to existing shareholders.
Risk Factors
- Significant dilution: 25M new shares (15.6% of pro forma company) issued to Deako stakeholders.
- Debt burden: $8.5M secured note at 12% interest with $2.25M due in 120 days and $6.25M due in 12 months, secured by all company assets.
- Potential overhang from 10b5-1 trading plan by senior lenders selling Merger Shares.
- Integration risk: Combining two companies with different cultures and operations.
- No financial statements filed yet for Deako — unknown financial health of the acquired business.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-046938 |
| Document: form8-k.htm | 0001493152-26-046938 |
| Document: 0001493152-26-046938-index-headers.html | 0001493152-26-046938 |
| Document: 0001493152-26-046938-index.html | 0001493152-26-046938 |
| Document: 0001493152-26-046938.txt | 0001493152-26-046938 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | EFFECT | $0.9000 | awaiting T+60 | — | $0.7850 (+12.78%) |
Oct 14, 2026 12d ago | S-3 | $1.01 | awaiting T+60 | — | $0.7850 (+22.28%) |
Oct 14, 2026 12d ago | 8-K | $1.04 | awaiting T+60 | — | $0.7850 (−24.52%) |
Oct 1, 2026 25d ago | 8-K | $1.18 | awaiting T+60 | — | $0.7850 (+33.47%) |
Sep 10, 2026 6w ago | 8-K | $1.32 | awaiting T+60 | — | $0.7850 (−40.53%) |
Sep 10, 2026 6w ago | Press Release | $1.32 | awaiting T+60 | — | $0.7850 (−40.53%) |
May 13, 2026 23w ago | DEFA14A | $1.14 $1.22 | ▲ +7.02% | ▲ +3.43% | $0.7850 (−31.14%) |
May 11, 2026 24w ago | 8-K | $1.14 $1.19 | ▲ +4.85% | ▲ +0.46% | $0.7850 (−30.84%) |
May 11, 2026 24w ago | Press Release | $1.14 $1.19 | ▲ +4.85% | ▲ +0.46% | $0.7850 (−30.84%) |
May 7, 2026 24w ago | Press Release | $1.46 $1.11 | ▼ −23.97% | ▼ −27.81% | $0.7850 (−46.23%) |
US Market Status
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