SKYX Secures Strategic Belami Acquisition

Disruptive platform technology company, SKYX Platforms (Nasdaq: SKYX), will acquire Belami, an established lighting and home décor e-commerce company with $86 million in annual revenues.

SKYX expects the deal to significantly accelerate distribution of SKYX products to retail and industry professionals via Belami’s 64 websites, as well as significantly enhancing gross margins of SKYX products.

Highlights

  • The acquisition payments include up to 5,223,991 shares of SKYX’s common stock and $8 million in cash at close. The $8 million was fully funded by two major existing SKYX investors prior to the acquisition closing.

SKYX believes the acquisition will propel the company’s business years ahead of plan, and serve to enhance the education and awareness of the safety aspects and smart features of SKYX’s award-winning plug and play ceiling products.

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SKYX Secures Strategic Belami Acquisition

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