---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-027984"
form_type: "8-K"
ticker: "SKYH"
cik: "0001823587"
company_name: "Sky Harbour Group Corp"
filed_at: "2023-10-10T23:59:59+00:00"
generated_at: "2026-06-10T02:42:50.318066+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Sky Harbour restates Q2 cash flow; material weakness in internal controls

## Summary
- Misclassified $3.372M in construction retainage payments as operating instead of investing.
- Restating Q2 Form 10-Q for ended June 30, 2023 to correct cash flow statement.
- Corrected diluted EPS for Q2 2023: from $(0.06) to $(0.03); for Q2 2022: from $(0.09) to $0.17.
- Material weakness in ICFR identified; disclosure controls and procedures deemed ineffective.
- Management to describe remediation plan in forthcoming amended Q2 10-Q.

## SEC filing metadata
- accession: 0001437749-23-027984
- form_type: 8-K
- ticker: SKYH
- cik: 0001823587
- company_name: Sky Harbour Group Corp
- filed_at: 2023-10-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823587/000143774923027984/0001437749-23-027984-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823587/000143774923027984/ysac20231009_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-027984
- JSON: https://secwatch.observer/filing/0001437749-23-027984.json
- Plain text: https://secwatch.observer/filing/0001437749-23-027984.txt

## Key facts
- Auditor Changes
  Sky Harbour Group Corp reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On October 10, 2023, management and the audit committee (the “Audit Committee”) of the board of directors of Sky Harbour Group Corporation (the “Company”) concluded that the Company’s previously issued unaudited interim financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 14, 2023 (the “Q2 Form 10-Q” and such period, the “Affected Period”), should no longer be relied upon due to the error described below and should be restated.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823587/000143774923027984/0001437749-23-027984-index.htm

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