SKYX Announces The Completion Of A Strategic Investment Of $11M Of A New Class Of Preferred Stock In SKYX, With A Conversion Price Of $2/Share, With An 8% Annual Dividend, Led By Lance Shaner, Chairman & CEO Of Shaner Hotel Group, Joined By Other Strategic And Key SKYX Investors
Portfolio Pulse from Benzinga Newsdesk
SKYX Platforms Corp. has completed an $11 million strategic investment in a new class of preferred stock, with a conversion price of $2 per share and an 8% annual dividend. The investment was led by Lance Shaner and includes other strategic investors. SKYX aims to be cash flow positive by 2025.
October 07, 2024 | 1:28 pm
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POSITIVE IMPACT
SKYX Platforms Corp. has secured a strategic investment of $11 million in preferred stock, offering an 8% annual dividend and a conversion price of $2 per share. This investment, led by Lance Shaner, supports SKYX's financial goals, including being cash flow positive by 2025.
The $11 million investment in preferred stock with an 8% dividend is a positive financial move for SKYX, indicating strong investor confidence. The involvement of strategic investors like Lance Shaner suggests potential growth and stability, likely boosting short-term stock prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100