Sky Harbour Group Corporation Reports Third Quarter 2022 Financial Results and Opening of Nashville Campus at BNA
11 Novembro 2022 - 11:25AM
Business Wire
Sky Harbour Group Corporation (NYSE American: SKYH, SKYH WS)
(“SHG” or the “Company”), an aviation infrastructure company
building the first nationwide network of Home-Basing Solutions
(“HBS”), for business aircraft, today announced financial results
for quarter ended September 30, 2022.
Tal Keinan, Chairman and Chief Executive Officer, commented,
“Sky Harbour continued to advance its construction projects in the
third quarter of 2022. The company is excited to announce the
commencement of flight operations at Nashville International Phase
II, and we look forward to the opening at Miami Opa Locka Phase I
at the end of November. With the achievement of significant
milestones in terms of the overall business model, Sky Harbour is
eager to demonstrate further growth in the quarters ahead.”
Third Quarter 2022 Financial and Business Highlights:
- On August 18, 2022, we entered into a Common Stock Purchase
Agreement and a Registration Rights Agreement (collectively
referred to as the “Purchase Agreement”) with B. Riley Principal
Capital, LLC (“B. Riley”). Pursuant to the Purchase Agreement, we
have the right, in our sole discretion, to sell to B. Riley up to
10 million shares of our Class A Common Stock at 97% of the volume
weighted average price of our Class A Common Stock calculated in
accordance with the Purchase Agreement, over a period of 36 months
subject to certain limitations and conditions contained in the
Purchase Agreement. Sales and timing of any sales of Class A Common
Stock are solely at our election, and we are under no obligation to
sell any securities to B. Riley under the Purchase Agreement.
- On October 27, 2022, we substantially completed the
construction of its BNA Phase II development project. We expect
that our total construction costs associated with this project to
be slightly less than our initial estimated construction cost. In
connection with the substantial completion of our BNA HBS campus,
the tenant leases associated with our constructed hangars will
commence starting in November 2022.
Form 10-Q
SHG filed in a Quarterly Report on Form 10-Q the unaudited
consolidated financial statements for the quarter ended September
30, 2022. Investors can find the filing on the SEC’s website,
www.sec.gov.
About Sky Harbour Group Corporation
Sky Harbour Group Corporation is an aviation infrastructure
development company building the first nationwide network of
Home-Basing Solutions (“HBS”) for business aircraft. We develop,
lease and manage general aviation hangars across the United States,
targeting airfields in the largest growth markets with significant
aircraft populations and high hangar demand. Our HBS campuses
feature exclusive private hangars and a full suite of dedicated
services specifically designed for home-based aircraft. To learn
more, visit www.skyharbour.group.
Forward Looking Statements
Certain statements made in this release are "forward looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995,
including statements about the financial condition, results of
operations, earnings outlook and prospects of SHG may include
statements for the period following the consummation of the
business combination. When used in this press release, the words
“plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,”
“estimate,” “forecast,” “project,” “continue,” “could,” “may,”
“might,” “possible,” “potential,” “predict,” “should,” “would” and
other similar words and expressions (or the negative versions of
such words or expressions) are intended to identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. The forward-looking statements
are based on the current expectations of the management of SHG as
applicable and are inherently subject to uncertainties and changes
in circumstances and their potential effects and speak only as of
the date of such statement. There can be no assurance that future
developments will be those that have been anticipated. These
forward-looking statements involve a number of risks, uncertainties
or other assumptions that may cause actual results or performance
to be materially different from those expressed or implied by these
forward-looking statements. These risks and uncertainties include,
but are not limited to, those discussed and identified in the
public filings made or to be made with the SEC by SHG, including
the filings described above, regarding the following: expectations
regarding SHG’s strategies and future financial performance,
including its future business plans, expansion plans or objectives,
prospective performance and opportunities and competitors,
revenues, products and services, pricing, operating expenses,
market trends, liquidity, cash flows and uses of cash, capital
expenditures, and SHG’s ability to invest in growth initiatives;
SHG’s ability to scale and build the hangars currently under
development or planned in a timely and cost-effective manner; the
implementation, market acceptance and success of SHG’s business
model and growth strategy; the success or profitability of SHG’s
hangar facilities; SHG’s future capital requirements and sources
and uses of cash; SHG’s ability to obtain funding for its
operations and future growth; developments and projections relating
to SHG’s competitors and industry; the ability to recognize the
anticipated benefits of the business combination; geopolitical risk
and changes in applicable laws or regulations; the possibility that
SHG may be adversely affected by other economic, business, and/or
competitive factors; operational risk; risk that the COVID-19
pandemic, and local, state, and federal responses to addressing the
pandemic may have an adverse effect on SHG’s business operations,
as well as SHG’s financial condition and results of operations.
Should one or more of these risks or uncertainties materialize or
should any of the assumptions made by the management of SHG prove
incorrect, actual results may vary in material respects from those
projected in these forward-looking statements. SHG undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20221111005313/en/
Investor Relations: investors@skyharbour.group Attn: Francisco
X. Gonzalez, CFO
Sky Harbour (AMEX:SKYH)
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