Sky Harbour LLC, a developer of private aviation infrastructure focused on building, leasing and managing business aviation hangars, has entered into a business combination agreement with Yellowstone Acquisition Co. (NASDAQ: YSAC, YSACU and YSACW), a publicly traded special purpose acquisition company sponsored by Boston Omaha Corp. (NASDAQ:BOMN). Upon closing of the business combination, SHG will become a publicly traded company, and it is expected that its common stock will be listed on the Nasdaq exchange. Tal Keinan, chairman and chief executive officer of SHG, will continue to lead the business post-transaction. The combined company will have an implied pro forma equity market value of approximately $777 million at closing.

“Sky Harbour is pleased to be entering into this partnership with Yellowstone and the Boston Omaha team to capitalize on the strategic progress the company has made in the last twelve months,” said Keinan. “Adam Peterson’s and Alex Rozek’s experience in the infrastructure space, together with the funding provided by this transaction, will help the company to meet the demand for its offering across the country and achieve its growth objectives.”

“Boston Omaha’s largest business interests align behind building American infrastructure,” said Adam Peterson and Alex Rozek, Co-Chairpersons and Co-CEOs of Boston Omaha and Yellowstone. “We are attracted to the exceedingly high barriers to entry for additional, valuable hangar supply at key airports, all while being financed in an advantaged low-cost way. We believe Tal has built a best-in-class financial and operational team, creating considerable strategic value in the time we have known them. The team has refined a competitive business model that can scale and we are excited to partner with Sky Harbour.”

SHG is being advised by Morrison & Foerster LLP and Yellowstone is being advised by Gennari Aronson LLP.