Form 4: SkyX Platforms Corp. Co-CEO John P. Campi Reports Acquisition of Series A-1 Preferred Stock and Convertible Note

John P. Campi, Co-CEO of SkyX Platforms Corp., reports the acquisition of Series A-1 Preferred Stock and a Subordinated Convertible Promissory Note.

Summary

• On October 4, 2024, John P. Campi, Co-Chief Executive Officer of SkyX Platforms Corp., reported transactions involving Series A-1 Preferred Stock and a Subordinated Convertible Promissory Note.
• Campi acquired 10,000 shares of Series A-1 Preferred Stock at $25 per share, convertible into common stock at an initial conversion price of $2.00 per share, subject to adjustments.
• Campi also holds a Subordinated Convertible Promissory Note with a principal amount of $100,000, convertible into common stock at $3.00 per share, maturing on May 16, 2025.
• Campi directly owns 797,685 shares of SkyX Platforms Corp. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of insider transactions. The Co-CEO's investment could be seen as a positive signal, but it's not overwhelmingly so.

Positives

• The Co-CEO's investment in preferred stock and a convertible note signals confidence in the company's future.

Future Outlook

The Series A-1 Preferred Stock is subject to mandatory conversion by the issuer upon the occurrence of certain specified events until October 4, 2026. The issuer may redeem the Preferred Stock for cash upon the occurrence of certain events or at any time beginning October 4, 2027.

Industry Context

This filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives. It's common for executives to hold convertible securities and preferred stock as part of their compensation or investment strategies.

Stakeholder Impact

• The transactions could have a minor positive impact on shareholder confidence due to the Co-CEO's increased investment.

Key Dates