Sky Harbour Group Corporation (NYSE: SKYH) announced an additional $10 million in capital raised via a registered direct common stock placement, with 1 million shares sold to M-Cor Capital LLC at $10.00 per share. The transaction is expected to close on or before Tuesday.
The placement follows a prior registered direct stock offering that closed the previous week. Two investors from the initial tranche provided waivers to the company’s 90-day lock-up agreement, which took effect on Wednesday. Sky Harbour indicated no plans to seek further waivers.
Proceeds from the latest placement will support future hangar developments and other corporate objectives, the company said. Sky Harbour also noted it had filed monthly construction reports with EMMA/MSRB for Portfolio I and Portfolio II, as required under Continuing Disclosure Agreements tied to Series 2021 and Series 2026 bondholders.
The company’s leadership attended the Boston Omaha (NYSE: BOC) Annual Shareholder Meeting, where it presented an overview of its business model economics. The presentation was filed with the SEC on Thursday. Sky Harbour is also scheduled to participate in five additional investor conferences through mid-October, including the Evercore Virtual Real Estate Investor Conference from September 9–11 and the Lake Street Capital Markets 10th Annual Best Ideas Growth Conference in New York on September 9–10.
CEO Tal Keinan said, "We appreciate our ongoing partnership with M-Cor, and welcome this additional investment."
