SKYX Platforms (SKYX) has entered into a securities purchase agreement with one fundamental institutional investor to raise $25M of gross proceeds via a registered direct offering. Under the terms of the securities purchase agreement, the Company will issue, for an aggregate purchase price of $25M, a total of 10M shares of common stock, at a purchase price of $2.50 per share with no warrants. The closing of the offering is subject to customary closing conditions and is expected to close on or about January 26. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. Roth Capital Partners is acting as the exclusive placement agent for the offering.
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