SKYX Platforms Finalizes Securities Purchase Agreement
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SKYX Platforms finalized a Securities Purchase Agreement with a strategic investor, securing $1 million in gross proceeds. The investor acquired 40,000 shares of Series A-2 Preferred Stock at $25 per share, offering 8% annual dividends and conversion rights into common stock at $2 per share. The funds will be used for working capital and general corporate purposes. The stock ranks senior to common stock with specific voting rights. Analysts rate SKYX stock as Hold with a $2 price target, noting financial challenges despite positive technical indicators.
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