Sky Harbour Group Corp. Files 8-K with Material Agreement

TL;DR

Sky Harbour Group Corp. signed a new material agreement on 5/23/24. Check the exhibits for details.

AI Summary

Sky Harbour Group Corp. entered into a material definitive agreement on May 23, 2024. The filing also includes Regulation FD disclosures and financial statements and exhibits. The company was formerly known as Yellowstone Acquisition Co. and changed its name on September 3, 2020.

Why It Matters

This 8-K filing indicates a significant new agreement for Sky Harbour Group Corp., which could impact its business operations and financial standing.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.

Key Players & Entities

• Sky Harbour Group Corp. (company) — Registrant
• Yellowstone Acquisition Co. (company) — Former company name
• May 23, 2024 (date) — Date of earliest event reported
• September 3, 2020 (date) — Date of name change

FAQ

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

• ysac20240523_8k.htm (8-K) — 35KB
• ex_679420.htm (EX-99.1) — 11KB
• logo01.jpg (GRAPHIC) — 5KB
• 0001437749-24-018541.txt ( ) — 215KB
• skyh-20240523.xsd (EX-101.SCH) — 4KB
• skyh-20240523_def.xml (EX-101.DEF) — 14KB
• skyh-20240523_lab.xml (EX-101.LAB) — 19KB
• skyh-20240523_pre.xml (EX-101.PRE) — 14KB
• ysac20240523_8k_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On May 23, 2024, Sky Harbour Group Corporation (the "Company"), through a wholly-owned subsidiary of the Company, entered into a ground lease agreement (the "IAD Lease") at Washington Dulles International Airport ("IAD") with the Metropolitan Washington Airports Authority ("MWAA"). The IAD Lease covers approximately 18 acres of property at IAD. The initial term of the IAD Lease will be approximately 50 years and expire on March 31, 2074, and contains an option exercisable by the Company to extend the IAD Lease an additional 10 years following the expiration of the initial term. The property covered by the IAD Lease is split between two parcels, with rent payments associated with the first parcel ("IAD Phase I") commencing the earlier of certificate of occupancy or 36 months from the issuance of permits for IAD Phase I, and rent payments associated with the second parcel ("IAD Phase II") commencing the earlier of issuance of permits for IAD Phase II or five years from certificate of occupancy associated with IAD Phase I. The IAD Lease requires us to commence construction related to IAD Phase II within five years of the receipt of the certificate of occupancy for IAD Phase I. IAD is owned and operated by MWAA and is located in Dulles, Virginia.

01. Results of Operations and Financial Condition

Item 7.01. Results of Operations and Financial Condition. On May 29, 2024, the Company issued a press release (the "Press Release") which announced its execution of the IAD Lease. 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 Current Report on Form 8-K includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Certain of

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 29, 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 29, 2024 SKY HARBOUR GROUP CORPORATION By: /s/ Tal Keinan Name: Tal Keinan Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR