Private aviation infrastructure companyt Sky Harbour today announced it plans to merge with Yellowstone Acquisition, a SPAC sponsored by Boston Omaha Corporation.
The combined company would have an implied pro forma equity market value of approximately $777 million.
Yellowstone holds approximately $138 million in cash in trust. Assuming no redemptions by Yellowstone’s existing public stockholders, SHG’s shareholders will own approximately 58% percent of combined business.
The combined company expects to receive up to $238 million in gross proceeds, assuming no redemptions. The figure excludes additional funds which may be raised in a PIPE. All Sky Harbour shareholders are retaining 100% of their equity in the combined company.
If approved, upon closing the new company will list on the Nasdaq.
Sky Harbour develops campuses of business aviation hangars, leases them to corporate, private and government flight departments on a long-term basis, and manages the campuses. Read more.
