| Deal value | $12M |
|---|---|
| Share of market cap | 8.2% |
| Share of annual revenue | 13.6% |
Key highlights
- Acquisition finalized on October 13, 2026, making Deako a wholly-owned subsidiary of SKYX Platforms
- Consideration package includes 25,000,000 common shares and $12.5 million in cash and notes
- SKYX issued an $8.5 million senior secured promissory note with a 12% annual interest rate
- Deako shareholders now represent approximately 15.6% of the combined company's equity
- Stock consideration is subject to a 12-month lock-up with staggered quarterly releases
What Is the Deal?
The acquisition, finalized on October 13, 2026, establishes Deako, Inc. as a wholly-owned subsidiary of SKYX Platforms. Total consideration involves a multi-layered financial structure comprising 25,000,000 shares of common stock alongside $12.5 million in fixed debt and cash. Specifically, the cash component totals $4 million, with half paid at the September signing and the remainder at closing. The transaction also includes an $8.5 million senior secured promissory note, which carries a 12.0% annual interest rate. This note is secured by the company's personal property and requires a $2.25 million payment within 120 days of the closing date.
Deal Structure & Terms
The 25,000,000 merger shares are subject to a structured 12-month lock-up period to manage equity volatility. Release of these shares will occur in 25% increments at 12, 15, 18, and 21 months post-closing. Following the merger, SKYX's existing shareholders retain approximately 84.4% of the company, while former Deako securityholders control 15.6%. A significant portion of the merger shares is currently held in escrow to satisfy obligations to Deako's senior lenders. These lenders plan to liquidate the shares via a Rule 10b5-1 trading plan, with any residual equity distributed to pre-merger securityholders after expenses.
Strategic Rationale
This integration unites SKYX’s patented plug-and-play ceiling technology with Deako’s modular smart lighting solutions. The move aims to capitalize on a combined deployment pipeline that recently reported over 1,000,000 units across residential and commercial projects. By consolidating these platforms, the company intends to streamline its path toward cash flow positivity, a goal management previously set for the exit of fiscal year 2026. The acquisition effectively expands the group’s footprint in the smart home electrical equipment sector, leveraging Deako's existing builder relationships to accelerate the installation of SKYX's safety-focused ceiling outlets.
Financial Context
SKYX Platforms enters this transaction with a trailing twelve-month revenue of $92.01 million and a market capitalization of approximately $151.7 million. The acquisition represents a significant expansion relative to the company's current scale, especially considering the equity issuance which dilutes existing shares by roughly 15.6%. The company's recent financial performance includes quarterly revenue of $25.27 million, while technical indicators show an RSI of 41.8, suggesting neutral momentum. With the next quarterly earnings report scheduled for November 11, 2026, the market will soon assess the initial operational impact of the Deako integration on the balance sheet.
| Date | Announcement | Amount |
|---|---|---|
| 10 Sep 2026 | Agreement and Plan of Merger to acquire Deako, Inc.Source: stocktitan.net | $37.8 Million |
| Share price | $1.12 |
|---|---|
| Market cap | $152M |
| Revenue (annual) | $92M |
| 1-month price change | -17.04% |
| Sector | IndustrialsElectrical Equipment & Parts |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
SEC filing by SKYX Platforms Corp. announcing the completion of its merger with Deako, Inc.
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