MoFo News Item

MoFo Advises Sky Harbour LLC in Business Combination with Yellowstone Acquisition Company

26 Jan 2022

Morrison & Foerster advised Sky Harbour LLC (“SHG”), a developer of private aviation infrastructure focused on building, leasing, and managing business aviation hangars, in connection with its business combination agreement with Yellowstone Acquisition Company (NASDAQ: YSAC, YSACU, and YSACW) (“Yellowstone”), a publicly traded special purpose acquisition company (SPAC) sponsored by Boston Omaha Corporation (NASDAQ:BOMN) (“Boston Omaha”). Upon completion of the business combination on January 25, 2022, the combined company changed its name to Sky Harbour Group Corporation (“Sky Harbour”). As part of the business combination with Sky Harbour, a subsidiary of Boston Omaha Corporation (“Boston Omaha”) purchased 10,000,000 shares of Yellowstone Class A common stock for $100,000,000 and acquired additional shares of Class A common stock and warrants to purchase Class A common stock as Yellowstone’s sponsor.

Sky Harbour aims to address the shortage of private aviation hangars in many areas across the country by establishing a network of turnkey upscale business aviation hangar complexes. Sky Harbour's private hangar campuses allow business jet owners to better protect and maintain their aircraft, maximizing dependability and value. To learn more, visit www.skyharbour.group.

The MoFo team advising SHG was led by New York corporate partners Mitchell Presser and Omar Pringle, as well as Washington, D.C. finance of counsel Rafael Hernandez and corporate associate John Hensley, and included New York corporate partners Aly El Hamamsy and John Owen, Palo Alto corporate partner Lee Shepard, and New York finance partner David Kaufman, together with New York corporate associates Lee Nisson, Hannah Yang, and Tyler Miller, and Washington, D.C. corporate associate Christopher Rolle and finance associate Thomas Good. The wider team included San Francisco executive compensation partner Amanda Hines Gold, and New York tax partners Tony Carbone and Dave Sturgeon.

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