InvestmentMay 28, 2026, 06:08 AM
Horizon Aircraft Closes $25M Registered Direct Offering
AI Summary
New Horizon Aircraft Ltd. announced the closing of its previously announced registered direct offering, generating approximately $25 million in gross proceeds. The offering included the sale of 9,960,160 Class A Ordinary Shares (or equivalents) to the same institutional investors from its May 8, 2026 offering. The company intends to use the net proceeds to fully fund the completion of its Cavorite X7 prototype and advance the program toward testing, certification, and commercial production.
Key Highlights
- New Horizon Aircraft Ltd. closed a registered direct offering, raising approximately $25 million in gross proceeds.
- The offering involved the sale of 9,960,160 Class A Ordinary Shares (or equivalents).
- Net proceeds will fully fund the completion of the Cavorite X7 prototype.
- Funds will advance the Cavorite X7 program toward testing, certification, and commercial production.
- Titan Partners, a division of American Capital Partners, acted as the sole placement agent.
- The offering was made to the same institutional investors from its May 8, 2026 offering.
Price Impact
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