Yellowstone Acquisition Company and Sky Harbour LLC Announce Closing of Business Combination
25 Enero 2022 - 4:18PM
Business Wire
- Business combination approved by Yellowstone
stockholders.
- Trading of Sky Harbour Class A Common Stock and Class A
Common Stock Warrants to trade on the NYSE American.
Yellowstone Acquisition Company (NYSE: YSAC, YSACU, YSACW)
(“Yellowstone”) and Sky Harbour LLC today that they have closed
their previously announced business combination.
The business combination was approved by Yellowstone’s
stockholders at a special meeting held on January 25, 2022. Upon
completion of the business combination on January 25, 2022, the
combined company changed its name to Sky Harbour Group Corporation
(“Sky Harbour”). Sky Harbour’s Class A common stock will begin
trading on the NYSE American under the ticker symbol “SKYH”
commencing January 26, 2022. The warrants sold as part of the units
in the Yellowstone IPO will also begin trading on the NYSE American
under the ticker symbol “SKYHWS” commencing January 26, 2022.
Holders of Yellowstone units, Class A common stock and warrants
will receive Class A common stock and Sky Harbour warrants without
needing to take any action and accordingly such holders should not
submit the certificates relating to their units, common stock and
warrants. Effective as of the close of the business combination,
Yellowstone’s units ceased trading and each Yellowstone unit
immediately converted into a share of Sky Harbour Class A common
stock and one-half of a warrant to purchase one share of Sky
Harbour Class A common stock.
About Sky Harbour Group Corporation
Sky Harbour Group Corporation aims to address the shortage of
private aviation hangars in many areas across the country by
establishing a network of turnkey upscale business aviation hangar
complexes. Sky Harbour's private hangar campuses allow business jet
owners to better protect and maintain their aircraft, maximizing
dependability and value. To learn more, visit
www.skyharbour.group.
About Yellowstone Acquisition Company and Boston Omaha
Corporation
Yellowstone Acquisition Company was organized as a blank check
company incorporated for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses.
Yellowstone was managed and sponsored by a subsidiary of Boston
Omaha Corporation (NYSE:BOMN). Yellowstone’s initial public
offering occurred on October 21, 2020 raising approximately $136
million. As part of the business combination with Sky Harbour, a
subsidiary of Boston Omaha Corporation (“Boston Omaha”) purchased
10,000,000 shares of Yellowstone Class A common stock for
$100,000,000 and acquired additional shares of Class A common stock
and warrants to purchase Class A common stock as Yellowstone’s
sponsor. In addition to its investment in Sky Harbour and other
businesses, Boston Omaha operates in the billboard, surety
insurance, broadband services and real estate markets. For more
information about Boston Omaha, visit www.bostonomaha.com.
Forward Looking Statements
Certain statements made in this release are "forward looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995,
including statements about the anticipated benefits of the business
combination, and the financial condition, results of operations,
earnings outlook and prospects of Yellowstone and/or Sky Harbour
may include statements for the period following the consummation of
the business combination. When used in this press release, the
words “plan,” “believe,” “expect,” “anticipate,” “intend,”
“outlook,” “estimate,” “forecast,” “project,” “continue,” “could,”
“may,” “might,” “possible,” “potential,” “predict,” “should,”
“would” and other similar words and expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. The forward-looking
statements are based on the current expectations of the management
of Sky Harbour and Yellowstone as applicable and are inherently
subject to uncertainties and changes in circumstances and their
potential effects and speak only as of the date of such statement.
There can be no assurance that future developments will be those
that have been anticipated. These forward-looking statements
involve a number of risks, uncertainties or other assumptions that
may cause actual results or performance to be materially different
from those expressed or implied by these forward-looking
statements. These risks and uncertainties include, but are not
limited to, those discussed and identified in the public filings
made or to be made with the SEC by Sky Harbour, including the proxy
statement filed on January 7, 2022 regarding Yellowstone’s special
meeting of stockholders relating to the following: expectations
regarding Sky Harbour’s strategies and future financial
performance, including its future business plans, expansion plans
or objectives, prospective performance and opportunities and
competitors, revenues, products and services, pricing, operating
expenses, market trends, liquidity, cash flows and uses of cash,
capital expenditures, and Sky Harbour’s ability to invest in growth
initiatives; Sky Harbour’s ability to scale and build the hangars
currently under development or planned in a timely and
cost-effective manner; the implementation, market acceptance and
success of Sky Harbour’s business model and growth strategy; the
success or profitability of Sky Harbour’s hangar facilities; Sky
Harbour’s future capital requirements and sources and uses of cash;
Sky Harbour’s ability to obtain funding for its operations and
future growth; developments and projections relating to Sky
Harbour’s competitors and industry; the ability to recognize the
anticipated benefits of the business combination; geopolitical risk
and changes in applicable laws or regulations; the possibility that
Sky Harbour may be adversely affected by other economic, business,
and/or competitive factors; operational risk; risk that the
COVID-19 pandemic, and local, state, and federal responses to
addressing the pandemic may have an adverse effect on Sky Harbour’s
business operations, as well as Sky Harbour’s financial condition
and results of operations. Should one or more of these risks or
uncertainties materialize or should any of the assumptions made by
the management of Yellowstone and Sky Harbour prove incorrect,
actual results may vary in material respects from those projected
in these forward-looking statements. Neither Sky Harbour nor
Yellowstone undertakes any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220125006178/en/
Yellowstone: Catherine Vaughan contact@yellowstoneac.com
Sky Harbour Investor Relations: investors@skyharbour.group
Sky Harbour LLC: Millie Becker mbecker@skyharbour.group
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