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New Horizon Aircraft Ltd. Announces Closing of $20 Million Offering of Common Shares

  • New Horizon Aircraft Ltd. (NASDAQ: HOVR) closed a registered direct offering of 9,254,889 Class A Ordinary Shares.
  • The offering generated approximately $20 million in gross proceeds before expenses.
  • Titan Partners, a division of American Capital Partners, served as the sole placement agent.
  • Proceeds will fund & accelerate development of the Cavorite X7 aircraft program & support working capital.
  • The offering was executed under a Form S-3 shelf registration statement effective March 25, 2025.