Business
New Horizon Aircraft Ltd. Announces Closing of $25 Million Offering of Common Shares
TORONTO, ON / ACCESS Newswire / May 27, 2026 / New Horizon Aircraft Ltd. ("Horizon Aircraft" or the "Company") (NASDAQ:HOVR), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today ...
About this update from New Horizon Aircraft Ltd.
[{"type":"text","content":"TORONTO, ON / ACCESS Newswire / May 27, 2026 / New Horizon Aircraft Ltd. ("Horizon Aircraft" or the "Company") (NASDAQ:HOVR), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today announced the closing of its previously announced registered direct offering pursuant to a definitive agreement with the same institutional investors from its May 08, 2026 offering for the purchase and sale of an aggregate of 9,960,160 Class A Ordinary Shares ("Common Shares") (or Common Share equivalents). The gross proceeds to the Company were approximately $25 million, before deducting offering expenses. The Company intends to use the net proceeds from the offering to fully fund the completion of the Cavorite X7 prototype and advance the program toward testing, certification and commercial production.","length":893,"tagName":"p"},{"type":"text","content":"Titan Partners, a division of American Capital Partners, acted as the sole placement agent for the offering.","length":108,"tagName":"p"},{"type":"text","content":"The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-285000) initially filed with the Securities and Exchange Commission ("SEC") on February 14, 2025, and declared effective by the SEC on March 25, 2025 (the "Registration Statement"). The Common Shares (or Common Share equivalents) were offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective Registration Statement. A prospectus supplement and accompanying prospectus relating to, and describing the terms of, the offering were filed with the SEC and are available for free on the SEC's website at www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus may also be obtained by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 49th Floor, New York, NY 10007, by phone at (929) 833-1246 or by email at [email protected].","length":985,"tagName":"p"},{"type":"text","content":"This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicita...