ACCESS Newswire·May 26, 2026, 11:40 AM ET

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

New Horizon Aircraft Ltd. (NASDAQ: HOVR) entered a definitive agreement to sell 9,960,160 Class A Ordinary Shares to existing U.S. institutional investors.
The offering is expected to generate gross proceeds of approximately $25 million before expenses.
Closing of the transaction is anticipated on or about May 27, 2026, subject to customary conditions.
Net proceeds will fully fund the completion of the Cavorite X7 prototype to advance testing, certification, & commercial production.
Titan Partners, a division of American Capital Partners, acted as the sole placement agent for the offering.
The sale was conducted under a Form S-3 shelf registration statement declared effective by the SEC on March 25, 2025.
Horizon Aircraft develops hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft designed for wing-borne flight with a focus on safety, speed, & range.