SKYX - SKYX Platforms buys lighting and home décor company Belami

• SKYX Platforms ( NASDAQ: SKYX ) on Tuesday announced that it signed a definitive acquisition agreement to acquire Belami.
• Belami is an established, profitable, strategic lighting and home décor e-commerce conglomerate with $86 million in revenues and 64 websites.
• Under terms, the acquisition payments will include up to 5,223,991 shares of SKYX's common stock and $8 million cash, with an additional $4 million deferred cash payment one year after close.
• The shares portion will include 2,018,692 restricted shares that will be delivered to Belami selling shareholders at close and an additional payment of up to 2,233,331 restricted shares that will be delivered to selling shareholders 1 year after close.
• The equity portion of the acquisition reflects a total of $16 million. SKYX has made a $1 million deposit to an escrow account at signing.
• SKYX has also agreed to assume Belami's loan agreement with PNC Bank, National Association, consisting of a $2.0 million available revolving line of credit and a term loan of approximately $2.5 million.

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