Sky Harbour Group Corporation Announces Uplisting to the New York Stock Exchange

Rhea-AI Summary

Sky Harbour Group (SKYH) announced its approval for uplisting from NYSE American to the New York Stock Exchange (NYSE). Trading of the company's common stock and warrants will cease on NYSE American after market close on January 24, 2025, and begin on NYSE on January 27, 2025, maintaining the symbols 'SKYH' and 'SKYH WS'.

The aviation infrastructure company, which builds nationwide home-basing campuses for business aircraft, has been listed on NYSE American since early 2022. The uplisting is expected to enhance visibility, expand investor base, and increase liquidity for public stockholders.

Positive

• Uplisting to NYSE mainboard indicates company growth and meeting higher listing requirements
• Potential for increased trading liquidity and broader investor exposure
• Maintains same trading symbols, ensuring continuity for investors

Negative

• None.

Insights

Financial Analyst

The uplisting to NYSE from NYSE American represents a significant milestone for Sky Harbour Group, potentially enhancing its market visibility and trading liquidity. With a market cap of $403M, this move could attract institutional investors who may have been restricted from trading NYSE American stocks. The uplisting typically indicates improved financial strength and corporate governance standards, as NYSE has more stringent listing requirements. While the immediate impact on the stock price might be , the enhanced trading platform could lead to better price discovery and potentially lower volatility. The company's strategic timing of this move, amid its expansion of nationwide business aircraft home-basing facilities, suggests confidence in its growth trajectory and ability to meet the higher listing standards of NYSE.

Market Research Analyst

The aviation infrastructure sector's dynamics make this uplisting particularly noteworthy. Sky Harbour's business model of developing home-basing campuses for business aircraft addresses a growing market need and the NYSE listing could provide better access to capital for expansion. The transition from NYSE American, which typically hosts smaller growth companies, to the main NYSE board signals maturation and could enhance credibility with both customers and investors. The timing aligns with increased private aviation activity and demand for dedicated aircraft facilities. The maintained ticker symbols ensure continuity for existing investors while potentially attracting new institutional attention through improved visibility on the premier exchange.

WEST HARRISON, N.Y.--(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 campuses for business aircraft, announced today that the Company has been approved for uplisting to the New York Stock Exchange (“NYSE”) from the NYSE American.

The common stock and warrants of the Company will cease trading on the NYSE American after market close on January 24, 2025, and will commence trading on the NYSE effective at the opening of trading on January 27, 2025. The Company’s common stock and warrants will continue to trade under the symbols “SKYH” and “SKYH WS”, respectively.

“Sky Harbour has been listed on the NYSE American since going public in early 2022. Now that we have met the requirements of the “Big Board,” we are pleased to join larger capitalization and more liquid public companies at the NYSE,” commented Francisco Gonzalez, Sky Harbour's Chief Financial Officer. “We believe this move will provide enhanced visibility, expand our investor base and increase liquidity for our public stockholders.”

“Congratulations to Sky Harbour Group on its uplisting from NYSE American to the New York Stock Exchange,” said Chris Taylor, Vice President, Global Head of Listings and Services at NYSE Group. “We look forward to working with the Company for years to come, as it continues to take advantage of the visibility and liquidity that the NYSE uniquely provides.”

If you have any questions or are interested in connecting with Sky Harbour leadership, please contact Investor Relations at investors@skyharbour.group.

About Sky Harbour Group Corporation

Sky Harbour Group Corporation is an aviation infrastructure company developing the first nationwide network of Home-Basing campuses for business aircraft. The company develops, leases and manages general aviation hangars across the United States. Sky Harbour’s Home-Basing offering aims to provide private and corporate customers with the best physical infrastructure in business aviation, coupled with dedicated service tailored to based aircraft, offering the shortest time to wheels-up in business aviation. 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 expectations regarding future operations at Sky Harbour Corporation and its subsidiaries. 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 Sky Harbour Group Corporation (the “Company”) as applicable and are inherently subject to uncertainties and changes in circumstances. 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. For more information about risks facing the Company, see the Company’s annual report on Form 10-K for the year ended December 31, 2023, and other filings the Company makes with the SEC from time to time. The Company’s statements herein speak only as of the date hereof, and the Company 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241217785670/en/

SKYH Investor Relations:

investors@skyharbour.group

Attn: Francisco X. Gonzalez, CFO

Source: Sky Harbour Group Corporation

FAQ

When will Sky Harbour Group (SKYH) begin trading on the NYSE mainboard?

Sky Harbour Group (SKYH) will begin trading on the NYSE mainboard on January 27, 2025.

What are the benefits of Sky Harbour Group's uplisting to NYSE from NYSE American?

The uplisting is expected to provide enhanced visibility, expand the investor base, and increase liquidity for public stockholders.

Will SKYH's trading symbols change after uplisting to NYSE?

No, SKYH will maintain its current trading symbols 'SKYH' for common stock and 'SKYH WS' for warrants on the NYSE.

How long has Sky Harbour Group been listed on NYSE American before uplisting?

Sky Harbour Group has been listed on NYSE American since early 2022, when it went public.

When will SKYH cease trading on NYSE American?

SKYH will cease trading on NYSE American after market close on January 24, 2025.