SKYX Completes Deako Merger, Issues $8.5M Secured Note at 12% Interest
SKYX sits 20% above its 52-week low of $0.946 on light trading volume (0.3× avg).
Summary
SKYX completed its Deako acquisition on October 13, 2026, issuing 25 million shares into escrow and taking on an $8.5 million senior secured note at 12% interest. The deal adds structured selling pressure via a 10b5-1 plan and new debt covenants. SKYX filed an S-3 to register resale of 25,250,000 shares issued in the merger, including 250,000 shares to Deako's broker.
Updated with an SEC S-3 filing · What changed
Updates
· SEC S-3 — SKYX filed an S-3 to register resale of 25,250,000 shares issued in the Deako merger, including 250,000 shares to Deako's broker.
Key Events · M&A and Partnerships · SKYX
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Updated · · SEC S-3
25M Shares in Escrow with Lock-Up and S-3 Resale Registration
25 million merger shares are held in escrow under a 12-month lock-up, released in 25% tranches at 12, 15, 18, and 21 months after closing. Post-merger ownership: current SKYX shareholders 84.4%, Deako former shareholders 15.6%. SKYX filed an S-3 to register resale of 25,250,000 shares issued in the merger, including 250,000 shares to Deako's broker.
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Deako Merger Completed
SKYX closed its acquisition of Deako on October 13, 2026, making Deako a wholly-owned subsidiary. The deal was first announced September 9, 2026.
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$8.5M Secured Note Issued
SKYX issued an $8.5 million senior secured promissory note to MassMutual entities at 12% annual interest. $2.25 million is due in 120 days and $6.25 million due in 12 months, secured by substantially all of SKYX's personal property.
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Senior Lenders to Sell via 10b5-1 Plan
Deako's senior lenders have agreed to sell the merger shares pursuant to a Rule 10b5-1 trading plan, creating structured selling pressure as shares are released from escrow.
Analysis · SKYX · Manufacturing
SKYX closed its acquisition of Deako on October 13, 2026, finalizing a deal first announced September 9. The closing brings new material financing terms: an $8.5 million senior secured promissory note to MassMutual entities at 12% annual interest, with $2.25 million due in 120 days and the remaining $6.25 million due in 12 months. The note is secured by substantially all of SKYX's personal property and carries restrictive covenants, including a cap on additional pari passu debt of $10 million and limits on dividends and asset sales. The 25 million merger shares are now in escrow under a 12-month lock-up with staggered 25% releases, and the senior lenders have committed to a Rule 10b5-1 trading plan — meaning selling pressure on SKYX stock is structured but inevitable as those shares become tradable. Against SKYX's roughly $152 million market cap, the $8.5 million note plus $4 million in cash represents a meaningful new debt burden for a company that only recently strengthened its balance sheet with a $29 million capital raise. SKYX has filed an S-3 to register resale of 25,250,000 shares issued in the merger, including 250,000 shares to Deako's broker.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 39% of the 991 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SKYX was trading at $1.14 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $151.7M. The 52-week trading range was $0.95 to $3.29. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.