UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On December 31, 2025, a member of the Company’s Board of Directors converted $835,900, representing the full principal balance plus accrued and unpaid interest from 2020, under his Subordinated Convertible Balloon Promissory Note issued by SKYX Platforms Corp. (the “Company”) on November 3, 2020 (the “Note”) into shares of the Company’s common stock.
On December 30, 2025, the Company and the holder entered into an amendment to the Note (the “Note Amendment”), extending the maturity date to May 1, 2027, increasing the interest rate to ten percent (10%) per year, and adjusting the conversion price to $2.20 per share. The Note Amendment is effective as of the original maturity date of the Note. No other terms of the Note were changed.
The foregoing summary of the Note Amendment does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Note Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K (this “Current Report”) and is incorporated herein by reference.
Item 3.02 Unregistered Sales of Equity Securities.
The disclosures set forth under Item 1.01 of this Current Report are incorporated by reference in this Item 3.02. The issuance of the Note and the shares of common stock upon conversion of the Note was deemed to be exempt from registration pursuant to Section 4(a)(2) of the Securities Act, including Regulation D and Rule 506 promulgated thereunder, as transactions by the Company not involving a public offering.
Item 9.01 Financial Statements and Exhibits.
| Exhibit Number | Description | |
| 10.1 | Amendment No. 1 to Subordinated Convertible Balloon Promissory Note, dated December 30, 2025. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SKYX PLATFORMS CORP. | ||
| Date: January 2, 2026 | By: | /s/ Leonard J. Sokolow |
| Name: | Leonard J. Sokolow | |
| Title: | Chief Executive Officer | |