Corporate ActionMay 11, 2026, 08:37 AM
New Horizon Aircraft Closes $20M Registered Direct Offering
AI Summary
New Horizon Aircraft Ltd. announced the closing of its registered direct offering, raising approximately $20 million in gross proceeds. The company sold 9,254,889 Class A Ordinary Shares to certain institutional investors. The net proceeds are intended to fund and accelerate the development and buildout of the Cavorite X7 aircraft program, as well as for general corporate purposes and working capital.
Key Highlights
- New Horizon Aircraft closed its previously announced registered direct offering.
- The offering generated gross proceeds of approximately $20 million.
- The company sold an aggregate of 9,254,889 Class A Ordinary Shares.
- Net proceeds will fund and accelerate the Cavorite X7 aircraft program development.
- Proceeds will also be used for working capital and general corporate purposes.
- Titan Partners acted as the sole placement agent for the offering.