Sky Harbour Draws $20M from Term Loan for Miami-Opa Locka Phase II
SKYH sits 25% above its 52-week low of $8.22.
Summary
Sky Harbour Group Corp. has drawn an additional $20 million from its term loan facility with JPMorgan to fund the second phase of construction at Miami-Opa Locka Executive Airport. This financing follows an 8-K filed earlier today disclosing the same event. The company's last 10-Q in May reported securing $160 million in new debt and drawing $27 million from its term loan, indicating a continued strategy of debt-funded expansion for its hangar development projects.
At the time of this announcement, SKYH was trading at $10.29 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $787.5M. The 52-week trading range was $8.22 to $11.17. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.