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BUSINESSWIRE: Sky Harbour Announces Second Closing of Equity Raise, with Additional Participation of Existing and New Long-Term Investors
12.23.24
Sky Harbour Group Corporation (NYSE American: SKYH, SKYH WS) (“SHG” or the “Company”), an aviation infrastructure company building the first nationwide network of Home-Basing campuses for business aircraft, announced it has completed the second closing of its previously announced equity raise. The Company issued an additional 3,955,790 PIPE shares of its Class A Common Stock in connection with the exercise of all the rights to purchase additional shares provided to PIPE investors who participated in the first closing for net proceeds of approximately $37.6 million, at a sale price of $9.50 per share. Aggregate proceeds from both closings were approximately $75.2 million, representing the full capacity of the equity raise.
“We are pleased to have been oversubscribed in the investor interest of this equity financing. We will continue with our policy of conservative and deliberate management of our liquidity and capital formation.”