{"url_path":"/sec/skyh/8-k/2026-07-06/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-06","source_url":"https://www.sec.gov/Archives/edgar/data/1823587/0001437749-26-022810-index.html","accession_number":"0001437749-26-022810","cik":"0001823587","ticker":"SKYH","issuer_name":"Sky Harbour Group Corp","edgar_url":"https://www.sec.gov/Archives/edgar/data/1823587/0001437749-26-022810-index.html","primary_entity_key":"0001823587","primary_entity_name":"Sky Harbour Group Corp"},"word_count":428,"has_tables":true,"body_markdown":"**Item 1.01 Entry into a Material Definitive Agreement**\n\n \n\n*Second Amendment to Draw Down Note Purchase and Continuing Covenant Agreement*\n\n \n\nOn June 29, 2026, Sky Harbour Capital II LLC (“SH Capital II”), an indirect, wholly-owned subsidiary of Sky Harbour Group Corporation (the “Company”), entered into an amendment (the “Second Amendment”) to its Draw Down Note Purchase And Continuing Covenant Agreement (the “Term Loan Facility”), among SH Capital II, the other borrowers party thereto (the “Borrowers”), the lenders party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent, sole bookrunner and sole lead arranger (“JPMorgan” or “Administrative Agent”). The Second Amendment amends the Term Loan Facility to permit the Company to request a borrowing not to exceed $20 million under the Term Loan Facility (the “OPF Phase II Borrowing”) for the purpose of financing or reimbursing costs incurred by Sky Harbour Opa Locka Airport LLC (the “OPF Phase II Owner”) in connection with the second phase of its construction project at Miami-Opa Locka Executive Airport (the “OPF Phase II Project”). Under the terms of the Second Amendment, the OPF Phase II Project was not added to the borrowing base of the Term Loan Facility, nor did the OPF Phase II Owner become a Borrower. Subsequently, on June 29, 2026, SH Capital II requested and borrowed the OPF Phase II Borrowing of $20 million.\n\n \n\nThe Second Amendment requires that the Company make cash contributions to one or more of the Borrowers in an aggregate amount of not less than $20 million (the “Term Loan Facility Replenishment”). The Company is permitted to utilize the cash proceeds of the Public Finance Authority Revenue Bonds (Sky Harbour Capital III LLC Aviation Facilities Project), Series 2026 (the “Series 2026 Bonds”) issued by Sky Harbour Capital III LLC (“SH Capital III”) to fulfill the requirements of the Term Loan Facility Replenishment. Pursuant to the Second Amendment the Borrowers have agreed not to create or permit a lien on the Company's hangar campus at San José Mineta International Airport or its equity interests therein, or income derived therefrom, until the Term Loan Facility Replenishment is complete.\n\n \n\nThe OPF Phase II Borrowing and the obligations under the Term Loan Facility Replenishment are also subject to the customary condition that there not be any default under the Term Loan Facility.\n\n \n\nThe Borrowers’ obligations with respect to the Term Loan Facility Replenishment have been guaranteed by the Company and by Sky Harbour Holdings II LLC.\n\n \n\nThe description of the Second Amendment is qualified in its entirety by reference to exhibit 10.1 to this Current Report on Form 8-K."}