Sky Acquisition Group, a blank check company formed by CXApp CEO Khurram Sheikh targeting the AI industry, filed on Wednesday with the SEC to raise up to $150 million in an initial public offering. The San Francisco, CA-based company plans to raise $150 million by offering 15 million units at a price of $10. Each unit consists of one share of common stock and one-third of one warrant exercisable at $11.50.
The company is led by its founder, Chairman, CEO and CFO Khurram Sheikh, who is currently the CEO of CXApp (Nasdaq: CXAI), an AI-powered workplace employee experience platform that listed via SPAC merger in 2023 with KINS Technology Group, where Mr. Sheikh was Chairman and CEO. He also serves as the Chairman & CEO of Aijaad, a boutique strategic advisory firm, and previously was the CEO of kwikbit.
The San Francisco, CA-based company was founded in 2025 and plans to list on the Nasdaq under the symbol SKAIU. Sky Acquisition Group filed confidentially on December 30, 2025. Maxim Group LLC is the sole bookrunner on the deal.
