John P. Campi - 29 Mar 2024 Form 4 Insider Report for SKYX Platforms Corp. (SKYX)

Reporting relationship: Co-Chief Executive Officer
Issuer ticker: SKYX
Reported as of: 29 Mar 2024
Net transaction value: $0
SEC form: 4
Accepted by SEC: 01 Apr 2024, 17:53:31 UTC
Prior SEC filing: 15 Dec 2023
Next SEC filing: 07 Oct 2024
Source filing: View source filing
Reporting owner signature: /s/ John P. Campi

Key filing fact

John P. Campi filed Form 4 for SKYX Platforms Corp. (SKYX) on 01 Apr 2024.

Key facts

This page summarizes John P. Campi's Form 4 filing for SKYX Platforms Corp. (SKYX).
2 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 01 Apr 2024, 17:53.

Change

Previous filing in this sequence was filed on 15 Dec 2023.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SKYX holding

Common Stock, no par value

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 797,685
Date: 29 Mar 2024
Ownership: Direct

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SKYX transaction Derivative

6.0% Subordinated Convertible Promissory Note

Disposed to Issuer

Transaction value: $100,000
Shares
Change %
Price
Shares after: $0
Date: 29 Mar 2024
Ownership: Direct
Underlying class: Common Stock, no par value
Underlying amount: $100,000
Exercise price: $15.00
Footnotes: F1, F2, F3

SKYX transaction Derivative

Subordinated Convertible Promissory Note

Award

Transaction value: $100,000
Shares
Change %
Price
Shares after: $100,000
Date: 29 Mar 2024
Ownership: Direct
Underlying class: Common Stock, no par value
Underlying amount: $100,000
Exercise price: $3.00
Footnotes: F1, F2, F3

SKYX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 120,000
Date: 29 Mar 2024
Ownership: Direct
Underlying class: Common Stock, no par value
Underlying amount: 120,000
Exercise price: $6.00

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote 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.

Footnote 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.

Footnote 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.