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Note 17 - Subsequent Events
9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE 17.     SUBSEQUENT EVENTS

 

In October 2023, FIF St George, LLC, our wholly-owned subsidiary, acquired substantially all of the business assets of SunRiver Fiber Network from Cable Systems of Nevada (“Cable Systems”) for a purchase price of $4,375,000.  The acquisition expands InfoWest’s current fiber footprint in Utah and includes all of Cable Systems’ fiber internet assets together with the internet and VoIP subscriber agreements.

 

On November 1, 2023, Sky Harbour entered into a securities purchase agreement with certain investors, pursuant to which Sky Harbour agreed to sell and issue to the investors at an initial closing an aggregate of 6,586,154 shares of Sky Harbour’s Class A Common Stock and accompanying warrants to purchase up to 1,141,600 shares of Sky Harbour’s Class A Common Stock, for an aggregate purchase price of $42.8 million, and agreed to sell and issue to the Investors at the second closing, if any, up to an aggregate of 2,307,692 PIPE Shares and accompanying PIPE Warrants to purchase up to an aggregate of 400,000 shares of Sky Harbour’s Class A Common Stock for an aggregate purchase price of up to $15.0 million. The closing of the initial financing occurred on November 2, 2023. The amount of additional PIPE shares and additional PIPE Warrants, if any, to be issued in connection with the additional financing will be determined by Altai Capital Falcon LP in its sole discretion, and the closing of the additional financing will occur, if at all, at the sole discretion of the lead investor, on or before November 30, 2023, subject to customary closing conditions.