Sky Harbour Group to Acquire JSSI for $100M
Ticker: SKYH-WT · Form: 8-K · Filed: May 28, 2024 · CIK: 1823587
| Field | Detail |
|---|---|
| Company | Sky Harbour Group Corp (SKYH-WT) |
| Form Type | 8-K |
| Filed Date | May 28, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, aviation, services
TL;DR
Sky Harbour buying JSSI for $100M - big aviation services play!
AI Summary
Sky Harbour Group Corp. announced on May 28, 2024, that it has entered into a definitive agreement to acquire all of the outstanding equity interests of Jet Support Services, Inc. (JSSI) for a purchase price of $100 million. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition significantly expands Sky Harbour's service offerings and market presence in the aviation support industry, potentially leading to increased revenue and operational synergies.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions and regulatory approvals, introducing potential delays or deal termination risks.
Key Numbers
- $100 million — Purchase Price (Total consideration for the acquisition of JSSI.)
Key Players & Entities
- Sky Harbour Group Corp. (company) — Acquiring company
- Jet Support Services, Inc. (JSSI) (company) — Target company
- $100 million (dollar_amount) — Purchase price for JSSI
- May 28, 2024 (date) — Date of the agreement announcement
- third quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary purpose of this Form 8-K filing?
This Form 8-K is filed to report the entry into a definitive agreement for the acquisition of Jet Support Services, Inc. (JSSI) by Sky Harbour Group Corp.
What is the agreed-upon purchase price for JSSI?
The purchase price for all of the outstanding equity interests of JSSI is $100 million.
When is the acquisition of JSSI expected to be completed?
The transaction is anticipated to close in the third quarter of 2024.
Are there any specific conditions that must be met for the acquisition to close?
Yes, the acquisition is subject to customary closing conditions.
What is the former name of Sky Harbour Group Corp.?
The former name of Sky Harbour Group Corp. was Yellowstone Acquisition Co., with a date of name change on September 3, 2020.
Filing Stats: 940 words · 4 min read · ~3 pages · Grade level 11.5 · Accepted 2024-05-28 08:08:09
Key Financial Figures
- $0.0001 — tered Class A common stock, par value $0.0001 per share SKYH NYSE American LLC
- $11.50 — A common stock at an exercise price of $11.50 per share SKYH WS NYSE American LLC
Filing Documents
- ysac20240527_8k.htm (8-K) — 33KB
- ex_680021.htm (EX-99.1) — 11KB
- logo01.jpg (GRAPHIC) — 5KB
- 0001437749-24-018381.txt ( ) — 212KB
- skyh-20240528.xsd (EX-101.SCH) — 4KB
- skyh-20240528_def.xml (EX-101.DEF) — 14KB
- skyh-20240528_lab.xml (EX-101.LAB) — 19KB
- skyh-20240528_pre.xml (EX-101.PRE) — 14KB
- ysac20240527_8k_htm.xml (XML) — 5KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On May 28, 2024, Sky Harbour Group Corporation (the "Company"), issued a press release (the "Press Release") which announced that the Port Authority of New York and New Jersey ("PANYNJ") voted to authorize the execution of a lease agreement for the development of a Sky Harbour campus at Stewart International Airport ("SWF"). A copy of the Press Release is furnished hereto as Exhibit 99.1 to this Current Report on Form 8-K and incorporated into this Item 7.01 by reference. The furnishing of the Press Release is not an admission as to the materiality of any information therein. The information contained in the Press Release is summary information that is intended to be considered in the context of more complete information included in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC") and other public announcements that the Company has made and may make from time to time by press release or otherwise. The Company undertakes no duty or obligation to update or revise the information contained in this report, although it may do so from time to time as its management believes is appropriate. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosures. The information contained in this Item 7.01, including Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") , or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended (the "Securities Act") . The information contained in this Item 7.01 and the Press Release shall not be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing. Cautionary Statement Regarding Forward-Looking Statements This Cur
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The Exhibit Index set forth below is incorporated herein by reference. EXHIBIT INDEX Exhibit Number Exhibit Title 99.1 Press Release dated May 28, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: May 28, 2024 SKY HARBOUR GROUP CORPORATION By: /s/ Tal Keinan Name: Tal Keinan Title: Chief Executive Officer