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Note 20 - Subsequent Events | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Subsequent Events [Text Block] |
NOTE 20. | SUBSEQUENT EVENTS
On January 25, 2022, Yellowstone completed the previously announced proposed business combination with SHG following stockholder approval. Following the consummation of the business combination, SHG became a consolidated subsidiary of Yellowstone, which was renamed SHG Corporation, shares of which listed for trading on the New York Stock Exchange under the symbol “SKYH”. Also in connection with the business combination, SHG Corporation entered into a subscription agreement with BOC YAC, LLC, our wholly-owned subsidiary, pursuant to which SHG Corporation issued to us 4,500,000 shares of Class A common stock at a price of $10 per share, for total cash consideration of $45,000,000. As a result of the business combination, we will no longer consolidate Yellowstone within our financial statements. At March 25, 2022, our total investment in SHG Corporation, consisting of 13,118,474 shares of Class A common stock, after giving effect of the distribution of 75,000 shares of Sky class A common stock to the Yellowstone outside directors and 206,250 shares of Sky class A common stock to an investor in the Yellowstone IPO, and 7,719,779 Private Placement Warrants, based on its closing price on such date, was valued at approximately $326 million. In connection with the transaction on January 25, 2022, Yellowstone paid the deferred underwriting fee of $4,759,615 as well as the outstanding note payable to sponsor of $1,000,000 in full. On February 18, 2022, CB&T repurchased shares from an existing shareholder, increasing our ownership percentage to 15.60%.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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