Sky Harbour Group Raises $10M in Registered Direct Offering of 1M Shares to M-COR Capital at $10.00
Why It MattersThe direct share placement gives a private-hangar infrastructure operator fresh capital as business aviation ground-facility providers seek funding without underwriter fees.
Sky Harbour Group Corporation sold 1,000,000 shares of Class A common stock at $10.00 per share to M-COR Capital LLC in a registered direct offering, generating $10,000,000 in gross proceeds, with net proceeds estimated at approximately $10.0 million. The transaction was conducted without an underwriter, placement agent, broker, or dealer, and the company intends to use the proceeds, together with existing cash, cash equivalents, and marketable securities, for general corporate purposes, with management retaining broad discretion over specific uses.
The Stock Purchase Agreement was dated August 21, 2026, with share delivery scheduled for approximately August 26, 2026, subject to customary closing conditions. As a result, Sky Harbour's Class A shares outstanding will increase from 38,583,152 as of August 25, 2026 to 39,583,152.
Based on June 30, 2026 figures, the company's net tangible book value was $4.75 per share before the offerings. After giving effect to this 1,000,000-share offering and a prior registered direct offering of 4,000,000 shares completed on August 12, 2026 at $10.00 per share (gross proceeds of $40,000,000), the as-adjusted net tangible book value is $5.42 per share — a $0.67 increase for existing shareholders and $4.58 per share of dilution for new investors at the $10.00 offering price. Boston Omaha Corporation completed private secondary sales of an aggregate 360,000 existing shares at $10.00 per share on August 14 and 18, 2026, which did not raise proceeds for Sky Harbour Group.
