Sky Harbour closes initial $37.58M PIPE, upsized by $5.7M; second closing up to $37.58M by Dec 20

Sky Harbour Group Corp

Issued 3,955,790 shares at $9.50 each for aggregate net proceeds of ~$37.58M.
Upsized by 603,684 shares ($5.7M) from additional subscriptions by existing and new long-term investors.
Second closing of up to $37.58M (same price) at the investors' option, on or before December 20, 2024.
Proceeds, combined with expected $150M debt financing in H1 2025, to fund phase 1 of 6-7 new airport campuses (~800k sq ft).
Investors include Altai Capital, Raga Partners, and Boulderado (family office of board member Alex Rozek).

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