---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-014241"
form_type: "8-K"
ticker: "SKYH"
cik: "0001823587"
company_name: "Sky Harbour Group Corp"
filed_at: "2023-05-12T23:59:59+00:00"
generated_at: "2026-06-15T02:44:23.241422+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sky Harbour acquires 51% stake in hangar supplier Rapidbuilt, guarantees $10M loan

## Summary
- Acquired 51% equity interest in Overflow Ltd. and its subsidiary Rapidbuilt for nominal consideration.
- Rapidbuilt manufactures pre-engineered steel hangar buildings; prior vendor supply agreement existed.
- Sky guaranteed all obligations under existing $10M Overflow Loan (SOFR+3%, matures Dec 2025).
- Loan amendment includes waiver of pre-existing defaults, consent to change of control, and reserve enhancement terms.
- Acquisition aims to standardize proprietary hangar designs, reduce construction costs and development risk.

## SEC filing metadata
- accession: 0001437749-23-014241
- form_type: 8-K
- ticker: SKYH
- cik: 0001823587
- company_name: Sky Harbour Group Corp
- filed_at: 2023-05-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01, 3.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823587/000143774923014241/0001437749-23-014241-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823587/000143774923014241/ysac20230511_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-014241
- JSON: https://secwatch.observer/filing/0001437749-23-014241.json
- Plain text: https://secwatch.observer/filing/0001437749-23-014241.txt

## Key facts
- Debt Financings
  Sky Harbour Group Corp amended credit facility of approximately $10.0 million of principal outstanding with Vista Bank at 3.00% above the three-month secured overnight financing rate maturing December 1, 2025.
  - Instrument: credit facility
  - Principal: approximately $10.0 million of principal outstanding
  - Counterparty: Vista Bank
  - Rate: 3.00% above the three-month secured overnight financing rate
  - Maturity: December 1, 2025
  - Event: amendment
  source text: obligations under the Overflow Loan will be guaranteed by Sky. The Overflow Loan was originated in December 2020 between the Borrowers and the Lender and has approximately $10.0 million of principal outstanding as of the Option Exercise Date. The Overflow Loan accrues interest at a per annum rate equal to 3.00% above the three-month secured overnight financing
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823587/000143774923014241/0001437749-23-014241-index.htm
- Material Agreements
  Sky Harbour Group Corp amended Loan Amendment with Vista Bank valued at approximately $10.0 million.
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Vista Bank
  - Value: approximately $10.0 million
  source text: consent, waiver, and second amendment (the “Loan Amendment”) and a guaranty agreement (the “Guaranty Agreement”) associated with the senior loan agreement between Overflow and Rapidbuilt (collectively, the “Borrowers”), and the Lender (the “Overflow Loan”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823587/000143774923014241/0001437749-23-014241-index.htm
- Material Agreements
  Sky Harbour Group Corp entered into Guaranty Agreement with Vista Bank valued at approximately $10.0 million.
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Vista Bank
  - Value: approximately $10.0 million
  source text: consent, waiver, and second amendment (the “Loan Amendment”) and a guaranty agreement (the “Guaranty Agreement”) associated with the senior loan agreement between Overflow and Rapidbuilt (collectively, the “Borrowers”), and the Lender (the “Overflow Loan”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823587/000143774923014241/0001437749-23-014241-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.