Sky Harbour Group Corporation · NYSE:SKYH
Sky Harbour — Debt Investor Presentation (September 2022)
8 slides from Sky Harbour's debt investor presentation, Sep 28, 2022
Slide 1: Sky Harbour Capital LLC Update September 2022
Slide 2: Disclaimer
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Slide 3: Sky Harbour Update
Sky Harbour Update * Sky Harbour closed its Business Combination/De-SPAC with Yellowstone on January 25, 2022: $61 million of additional holding company gross proceeds * NYSE American listed company, expanded to 24 employees and consultants * Fully leased in Sugar Land, TX, 56% leased and 34% in lea
Slide 4: Construction Cost Update and Cost Mitigation Factors
Construction Cost Update and Cost Mitigation Factors * With execution of APA 1 and DVT 1 GMPs, ~57% of estimated aggregate Project budget is completed or under contract * Inflation in both labor and materials have increased construction costs above underwritten estimates at the time of the Private A
Slide 5: Modifying Obligated Group Project to Partially Cover Projected Shortfall
Modifying Obligated Group Project to Partially Cover Projected Shortfall * Modified construction program at the “Series 2021 Project” * Remove SGR Phase 2 from Obligated Group + Remove DVT Phase 2 from Obligated Group + “Furthest out” start date and highest construction costs * Add Addison (ADS) Air
Slide 6: Capitalization Plan Objectives for Addressing Projected Shortfall
Capitalization Plan Objectives for Addressing Projected Shortfall * Sky Harbour Group Corp (holding company) absorbs 100% of the increase in construction and development costs * Fully fund the total potential increase in construction fund of the modified project * Use the 2021 Project Modification p
Slide 7: Capitalization Plan Details
Capitalization Plan Details cash inpactto Achievement ConstructonFund Status Remaining Funding Gop After Propet Motion 228 ‘Duron Construction Petod Proconds Ronvstnort (UST hoes -Lockad in 320 Proonds Retvstnort (UST tore) - Estimated Rotbver $22 (Deal Foon Savings Reimbursemect 313 \Waiverof Devel
Slide 8: Next Steps and Conclusion
Next Steps and Conclusion * Ramping up integration with a national PEMB manufacturer * Adding new VP of Development (begins October 3") to focus on cost and schedule reductions on current and new construction projects * Engage Consultant for an update to the Obligated Group Feasibility Study to inco
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