Sky Harbour To Land on NYSE

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Sky Harbour—a real estate developer that is building and operating turnkey private aircraft hangar complexes at airports across the U.S.—will be listed on the New York Stock Exchange (NYSE) starting on January 25.

The New York-based company was founded in 2018 and has a 140,000-sq-ft hangar complex in operation at Houston-area Sugar Land Regional Airport. Construction of similar projects is underway at Nashville International Airport and Florida’s Miami Opa-Locka Executive Airport, both of which are slated for completion in September. Site preparation for facilities at Denver Centennial Airport and Phoenix Deer Valley Airport has begun, and the company was recently approved for a hangar development at Dallas-area Addison Airport. Sky Harbour plans to eventually have a presence at more than 50 U.S. airports.

Asset management firm Boston Omaha has committed $100 million to the company to accelerate its business plan and in August Sky Harbour entered into a business combination agreement with Yellowstone Acquisition Corp., a publicly traded special purpose acquisition company already listed on the NYSE under ticker symbol YSAC. Once that deal is approved, the combined companies, which have an estimated post-transaction equity market value of $720 million, will be listed under a new NYSE ticker symbol.

“Having validated the company’s business model and having established a robust pipeline of new airfields, Sky Harbour is today in a position to deploy capital very effectively and at scale,” CEO Tal Keinan told AIN. “Ongoing access to both equity and debt markets will sustain our accelerated growth plans.”

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