SKYX Platforms closes merger with smart home tech company Deako
SKYX•SKYX•SKYX•SKYX•SKYX Platforms closed its merger with Deako, with legacy SKYX shareholders holding 84.4% of the combined company and Deako shareholders and a lender holding 15.6%. The deal included 25 million SKYX shares, a $4 million payment to Deako’s senior lender and an $8.5 million secured note due in 2027.
SKYX Platforms closed its merger with smart home technology provider Deako to expand into AI-enabled builder and hotel markets. The combined company has an estimated pipeline of more than 4 million units, an expected average selling price of about $50 per product and targeted annual cost savings above $6 million.
Legacy SKYX shareholders hold 84.4% of the combined company, while Deako shareholders and a lender hold 15.6%. Consideration included 25 million SKYX shares subject to a 21-month lock-up and leak-out structure; SKYX also paid $4 million to Deako’s senior lender and issued an $8.5 million secured promissory note due in 2027.
