Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
holding | SKYX | Common Stock, no par value | 798K | Mar 29, 2024 | Direct |
Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | SKYX | 6.0% Subordinated Convertible Promissory Note | Disposed to Issuer | -$100K | $0 | Mar 29, 2024 | Common Stock, no par value | $100K | $15.00 | Direct | F1, F2, F3 | |||
transaction | SKYX | Subordinated Convertible Promissory Note | Award | $100K | $100K | Mar 29, 2024 | Common Stock, no par value | $100K | $3.00 | Direct | F1, F2, F3 | |||
holding | SKYX | Stock Option (right to buy) | 120K | Mar 29, 2024 | Common Stock, no par value | 120K | $6.00 | Direct |
Id | Content |
---|---|
F1 | 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. |
F2 | 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. |
F3 | 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. |