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New Horizon Aircraft Ltd. Announces Closing of $25 Million Offering of Common Shares

HOVR
  • New Horizon Aircraft Ltd. (NASDAQ: HOVR) announced the closing of a registered direct offering on May 27, 2026.
  • The Company sold 9,960,160 Class A Ordinary Shares to institutional investors who participated in a previous offering on May 08, 2026.
  • Gross proceeds from the offering totaled approximately $25 million before deducting offering expenses.
  • Titan Partners, a division of American Capital Partners, served as the sole placement agent for the transaction.
  • The Company intends to use net proceeds to fully fund the completion of the Cavorite X7 prototype & advance the program toward testing, certification & commercial production.
  • The offering was conducted pursuant to a shelf registration statement on Form S-3 declared effective by the SEC on March 25, 2025.