Sky Harbour Group Corporation Announces A Securities Purchase Agreement To Issue 3,352,106 PIPE Shares For Net Proceeds Of About $31.8M, On A Net Purchase Price Of $9.50 Per Share With Potential For Additional $63M By December 2024; Proceeds To Fund Aviation Infrastructure Expansion Plan Through 2026, Supporting Development Of 6-7 New Airport Campuses
Portfolio Pulse from Benzinga Newsdesk
Sky Harbour Group Corporation (NYSE:SKYH) has announced a securities purchase agreement to issue 3,352,106 PIPE shares for net proceeds of $31.8 million, with potential additional proceeds of $63 million by December 2024. The funds will support the expansion of aviation infrastructure, including the development of 6-7 new airport campuses.
September 17, 2024 | 12:16 pm
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Sky Harbour Group is issuing 3,352,106 PIPE shares for $31.8M, with potential for an additional $63M by December 2024. The proceeds will fund the expansion of aviation infrastructure, including 6-7 new airport campuses.
The issuance of PIPE shares and the potential for additional funding indicate a positive outlook for Sky Harbour Group's expansion plans. The funds will be used to develop new airport campuses, which could enhance the company's growth prospects and investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100