Yellowstone Acquisition and Sky Harbour announced the closing of their business combination following approval Jan. 25 by the SPAC’s shareholders.
Sky Harbour’s Class A common stock will begin trading today on the NYSE under the ticker symbol SKYH.
The SPAC in an 8-K filing disclosed that 12,061,401 shares were redeemed, which erased nearly 89% of the cash in trust. Yellowstone raised $136 million in a December 2020 IP0.
Private aviation company Sky Harbour agreed earlier this month to waive the $150 million minimum cash condition for closing a deal. Yellowstone had a $100 million PIPE in place and a forward purchase agreement for another $70 million. Read more.
