0001493152-24-012548.txt : 20240401
0001493152-24-012548.hdr.sgml : 20240401
20240401175532
ACCESSION NUMBER: 0001493152-24-012548
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240329
FILED AS OF DATE: 20240401
DATE AS OF CHANGE: 20240401
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: SOKOLOW LEONARD J
CENTRAL INDEX KEY: 0000923890
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-41276
FILM NUMBER: 24811429
MAIL ADDRESS:
STREET 1: REGATTA OFFICE PARK, WINDWARD THREE
STREET 2: 4TH FLOOR, WEST BAY ROAD, P.O. BOX 1114
CITY: GRAND CAYMAN
STATE: E9
ZIP: E9 KY11102
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: SKYX Platforms Corp.
CENTRAL INDEX KEY: 0001598981
STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC LIGHTING & WIRING EQUIPMENT [3640]
ORGANIZATION NAME: 04 Manufacturing
IRS NUMBER: 463645414
STATE OF INCORPORATION: FL
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 2855 W. MCNAB ROAD
CITY: POMPANO BEACH
STATE: FL
ZIP: 33069
BUSINESS PHONE: (855) 759-7584
MAIL ADDRESS:
STREET 1: 2855 W. MCNAB ROAD
CITY: POMPANO BEACH
STATE: FL
ZIP: 33069
FORMER COMPANY:
FORMER CONFORMED NAME: SQL Technologies Corp.
DATE OF NAME CHANGE: 20160812
FORMER COMPANY:
FORMER CONFORMED NAME: Safety Quick Lighting & Fans Corp.
DATE OF NAME CHANGE: 20140203
4
1
ownership.xml
X0508
4
2024-03-29
0
0001598981
SKYX Platforms Corp.
SKYX
0000923890
SOKOLOW LEONARD J
C/O SKYX PLATFORMS CORP.
2855 W. MCNAB ROAD
POMPANO BEACH
FL
33069
1
1
0
0
Co-Chief Executive Officer
0
Common Stock, no par value
759220
D
6.0% Subordinated Convertible Promissory Note
15
2024-03-29
4
D
0
250000
0
D
2023-09-22
Common Stock, no par value
250000
0
D
Subordinated Convertible Promissory Note
3
2024-03-29
4
A
0
250000
0
A
2025-05-16
Common Stock, no par value
250000
250000
D
Stock Option (right to buy)
0.6
2015-11-15
2025-11-15
Common Stock, no par value
150000
150000
D
Stock Option (right to buy)
3
2017-06-30
2027-04-19
Common Stock, no par value
150000
150000
D
Stock Option (right to buy)
4
2017-12-31
2027-04-19
Common Stock, no par value
150000
150000
D
Stock Option (right to buy)
12
2020-01-01
2025-01-01
Common Stock, no par value
100000
100000
D
Stock Option (right to buy)
12
2020-12-31
2025-12-31
Common Stock, no par value
100000
100000
D
Stock Option (right to buy)
12
2021-12-31
2026-12-31
Common Stock, no par value
100000
100000
D
Stock Option (right to buy)
12.34
2022-03-31
2027-03-11
Common Stock, no par value
17500
17500
D
Stock Option (right to buy)
3.28
2023-04-30
2028-04-05
Common Stock, no par value
17500
17500
D
Stock Option (right to buy)
1.58
2023-09-12
2028-09-12
Common Stock, no par value
450000
450000
D
Warrant (right to buy)
9.8
2024-10-26
Common Stock, no par value
1088
1088
D
Warrant (right to buy)
9.8
2024-11-29
Common Stock, no par value
3375
3375
D
Warrant (right to buy)
9.8
2024-12-22
Common Stock, no par value
19827
19827
D
Exercisable at any time on or prior to the expiration date at the holder's discretion at the adjusted exercise price of $9.80 per share, subject to adjustment provisions (including certain anti-dilution provisions).
On March 29, 2024, the issuer and the reporting person entered into an amendment to the 6.0% subordinated convertible promissory note (the "Amendment") in order to, among other things, extend the maturity date of the note to May 16, 2025, increase the interest rate from 6.0% per annum to 10.0% per annum, effective as of January 1, 2024, and change the common stock conversion price from $15.00 per share to $3.00 per share. The Amendment is effective as of the original maturity date of the note and resulted in the cancellation of the "old" convertible note and the acquisition of a "new" convertible note. The issuer's Board of Directors approved the Amendment.
Prior to the Amendment, the principal amount, plus any accrued and unpaid interest, was convertible into shares of common stock at any time on or prior to the maturity date at the holder's discretion at the conversion price of $15.00 per share. Following the Amendment, the principal amount, plus any accrued and unpaid interest, is convertible into shares of common stock at any time on or prior to the maturity date at the holder's discretion at the conversion price of $3.00 per share.
Represents the principal amount of the convertible note and excludes interest that may accrue. Beginning January 1, 2024, the note accrues interest at a rate of 10.0% per annum, which is payable annually, in cash or common stock, at the holder's discretion. Prior to such date, the note accrued interest at a rate of 6.0% per annum.
Options vest over 3.5 years as follows, subject to continued employment through the vesting date: 120,000 vested on September 12, 2023; 300,000 vest in six semi-annual installments of 50,000, beginning on March 12, 2024; and 30,000 vest on March 12, 2027.
Includes 10,084 restricted shares granted in consideration for services to be provided to the issuer pursuant to a corporate advisory agreement between the issuer and Newbridge Securities Corporation dated November 9, 2022. The restricted shares vest on the following schedule: one quarter of the shares on each of November 9, 2022 and the six-, 12- and 18-month anniversaries of such date. If the agreement is terminated prior to its expiration, any shares that have not vested as of such date will be forfeited.
Includes 280,000 restricted stock units ("RSUs"), which will vest as follows, subject to continued employment through the vesting date: 250,000 vest in five semi-annual installments of 50,000 beginning on September 12, 2024 and 30,000 vest on March 12, 2027.
/s/ Leonard J. Sokolow
2024-04-01