SKYX Platforms CorpSKYX signs merger agreement to acquire Deako, issuing 25M shares plus $4M cash and $8.5M note, consolidating the smart home platform.

SKYX Platforms has signed a merger agreement with American smart lighting maker Deako, aiming to lead the AI smart home, builder, and hotel markets. As consideration, SKYX will issue common stock equal to 18.46% of the company, totaling 25 million shares subject to up to a 2-year lockup/leak-out agreement with a Rule 10b5-1 trading plan. SKYX will also pay Deako's lender $4 million by closing and issue a note of $8.5 million, with $2.25 million paid in Q-1 2027 and the remaining $6.25 million in Q-4 2027. Post merger, current SKYX shareholders will own 84.4% of the company, while Deako's shareholders and lender collectively will own 15.6%. SKYX shares rose 5% to $1.47.
SKYX Platforms CorpSKYX signs merger agreement to acquire Deako, issuing 25M shares plus $4M cash and $8.5M note, consolidating the smart home platform.
Deako is being acquired by SKYX, with its shareholders and lender receiving 15.6% of the combined company plus cash and notes.