SKYX Platforms Announces Merger Agreement to Acquire Deako

What Happened
SKYX Platforms Corp. announced on September 9, 2026 that its wholly owned subsidiary, Lumineer Merger Sub, will merge with and into Deako, Inc., with Deako surviving as a wholly owned subsidiary. As consideration, SKYX will issue 25,000,000 shares of common stock (approximately 18.46% of outstanding shares). The parties executed an Agreement and Plan of Merger; closing is subject to customary conditions, including approval by Deako’s securityholders, and a termination cut-off if conditions are not met by October 31, 2026. SKYX also announced an investor call and issued a press release on September 10, 2026.

Key Details

• Merger consideration: 25,000,000 shares of SKYX common stock (≈18.46%); Merger Shares subject to a transfer restriction with releases of 25% at 12, 15, 18 and 21 months after closing.
• Cash and debt to Senior Lenders: $4,000,000 in cash ( $2,000,000 paid at signing; $2,000,000 payable at closing) and senior secured promissory notes totaling $8,500,000.
• Promissory note terms: $2,250,000 due 120 days after closing; remaining principal due on the 12-month anniversary; interest at 12.0% per annum; notes secured by SKYX personal property.
• Senior Lenders will hold Merger Shares in escrow and plan to sell under Rule 10b5-1 trading plans; remaining shares (after fees/claims) may be distributed to pre-merger Deako securityholders. SKYX also agreed to enter into an employment agreement with Deako’s CEO at closing.

Why It Matters
This is a material acquisition for SKYX that brings Deako’s AI smart-home and modular lighting technology into the company and issues a sizable minority equity stake (18.46%) to Deako securityholders and lenders. Investors should note the near-term cash outlays ($4M), the $8.5M of secured debt SKYX is taking on with 12% interest, and the potential short-term share supply from the planned sale of Merger Shares by lenders. Closing remains subject to conditions and shareholder approval, and the agreement includes customary termination and indemnification provisions. The company held an investor call and filed the Merger Agreement and form of promissory note as exhibits to the 8-K for full terms.