Sky Harbour Group Raises $13.8M in Private Placement

TL;DR

Sky Harbour closed a $13.8M private placement at $11.50/share, raising cash for growth.

AI Summary

Sky Harbour Group Corp. announced on December 20, 2024, the closing of a private placement of 1,200,000 shares of its Class A common stock at a purchase price of $11.50 per share, resulting in gross proceeds of approximately $13.8 million. The company also issued warrants to purchase an additional 1,200,000 shares of Class A common stock. These securities were offered to certain institutional investors.

Why It Matters

This capital infusion provides Sky Harbour Group with additional funds to support its operations and strategic initiatives, potentially impacting its growth trajectory and market position.

Risk Assessment

Risk Level: medium — The company is issuing unregistered equity securities, which carries inherent risks related to dilution and market perception.

Key Numbers

• $13.8M — Gross Proceeds (Raised from the private placement of common stock.)
• $11.50 — Price Per Share (The price at which shares were sold in the private placement.)
• 1,200,000 — Shares Sold (Number of Class A common stock shares sold in the private placement.)

Key Players & Entities

• Sky Harbour Group Corp. (company) — Registrant
• December 20, 2024 (date) — Closing date of private placement
• $11.50 (dollar_amount) — Price per share in private placement
• 1,200,000 (dollar_amount) — Number of shares sold in private placement
• $13.8 million (dollar_amount) — Gross proceeds from private placement

FAQ

Key Financial Figures

• $0.0001 — tered Class A common stock, par value $0.0001 per share SKYH NYSE American LLC W
• $11.50 — A common stock at an exercise price of $11.50 per share SKYH WS NYSE American LLC
• $37,580,005.00 — es") for an aggregate purchase price of $37,580,005.00 (the "Second Closing"). Inclusive of th
• $75,160,010.00 — tock for an aggregate purchase price of $75,160,010.00 pursuant to the Purchase Agreement. It

Filing Documents

• ysac20241219c_8k.htm (8-K) — 34KB
• ex_760299.htm (EX-99.1) — 10KB
• 0001437749-24-038236.txt ( ) — 208KB
• skyh-20241220.xsd (EX-101.SCH) — 4KB
• skyh-20241220_def.xml (EX-101.DEF) — 14KB
• skyh-20241220_lab.xml (EX-101.LAB) — 19KB
• skyh-20241220_pre.xml (EX-101.PRE) — 15KB
• ysac20241219c_8k_htm.xml (XML) — 5KB

02. Unregistered Sales of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities The information in Item 8.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 3.02. The Second Closing PIPE Shares (as defined below) were offered and sold in transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), in reliance on Section 4(a)(2) thereof and Rule 506 of Regulation D thereunder. Each of the Investors (as defined below) represented that it was an "accredited investor," as defined in Regulation D, and acquired the Second Closing PIPE Shares for investment only and not with a view towards, or for resale in connection with, the public sale or distribution thereof in violation of applicable securities laws. The Second Closing PIPE Shares have not been registered under the Securities Act and such Second Closing PIPE Shares may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act and any applicable state securities laws. Neither this Current Report on Form 8-K nor any of the exhibits attached hereto is an offer to sell or the solicitation of an offer to buy the Second Closing PIPE Shares, shares of Class A common stock, par value $0.0001 per share (the "Common Stock") or any other securities of Sky Harbour Group Corporation (the "Company").

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On December 23, 2024, the Company issued a press release announcing the Second Closing (as defined below). A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in Item 7.01 of this Current Report on Form 8-K, including the information in the presentation attached as Exhibit 99.1 to this Current Report on Form 8-K, is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Furthermore, the information in Item 7.01 of this Current Report on Form 8-K, including the information in the presentation attached as Exhibit 99.1 to this Current Report on Form 8-K, shall not be deemed to be incorporated by reference in the filings of the Company under the Securities Act.

01. Other Events

Item 8.01. Other Events. On December 20, 2024, pursuant to the terms of the Securities Purchase Agreement, dated September 16, 2024 (the "Purchase Agreement"), by and among the Company and certain investors (collectively, the "Investors"), the Company sold and issued to the Investors an aggregate of 3,955,790 shares of Common Stock (the "Second Closing PIPE Shares") for an aggregate purchase price of $37,580,005.00 (the "Second Closing"). Inclusive of the initial closing that occurred on October 25, 2024, the Company issued and sold an aggregate of 7,911,580 shares of Common Stock for an aggregate purchase price of $75,160,010.00 pursuant to the Purchase Agreement.

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 of Sky Harbour Group Corporation, dated December 23, 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: December 23, 2024 SKY HARBOUR GROUP CORPORATION By: /s/ Tal Keinan Name: Tal Keinan Title: Chief Executive Officer

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View this 8-K filing on SEC EDGAR