SKYX Platforms Corp. (SKYX) has entered into a definitive agreement to acquire Deako, Inc., an AI smart home and lighting systems company based in Seattle, Washington. The transaction, signed on September 9, 2026, involves SKYX’s wholly-owned subsidiary, Lumineer Merger Sub, Inc.

Under the terms of the Agreement and Plan of Merger, Deako will merge into the subsidiary and survive as a wholly-owned subsidiary of SKYX. The acquisition is structured as a stock transaction. SKYX will issue 25,000,000 shares of its common stock to Deako’s securityholders. This issuance represents 18.46% of SKYX’s outstanding shares. These shares are subject to a lock-up period of 12 months, with 25% of the shares releasing from transfer restrictions on each of the 12th, 15th, 18th, and 21st months following the closing date.

In addition to the stock consideration, SKYX will pay $4,000,000 in cash to the senior lenders of Deako. Of this amount, $2,000,000 was paid upon signing the agreement, and the remaining $2,000,000 is payable upon closing. SKYX will also deliver senior secured promissory notes with an aggregate principal amount of $8,500,000 to these lenders. The notes bear interest at a rate of 12.0% per annum and are secured by SKYX’s personal property. The note principal is split into two payments: $2,250,000 due 120 days after closing and the remaining $6,250,000 due on the 12-month anniversary of the closing.

The merger is contingent upon the satisfaction of customary closing conditions, including approval by Deako’s securityholders. The agreement includes provisions for conduct-of-business restrictions, registration rights for the shares, and non-solicitation clauses. If the merger does not close due to a material breach by Deako, SKYX is entitled to repayment of the $2,000,000 cash payment made at signing.

Deako is a technology supplier to over 50 U.S. home builders, including D.R. Horton and Toll Brothers. The company has shipped over 32 million units of its plug-and-play smart home technologies and reported over $26 million in revenue in 2025. Following the merger, the combined entity will hold over 120 patents and patent pending applications related to smart home and AI platforms.