InvestmentMay 27, 2026, 09:02 AM
New Horizon Aircraft Raises $25M in Direct Offering
AI Summary
New Horizon Aircraft Ltd. announced the pricing of a registered direct offering, expecting to raise approximately $25.0 million in gross proceeds. The company agreed to sell 5,385,646 Class A ordinary shares at $2.51 each and pre-funded warrants to purchase 4,574,514 Common Shares at $2.509 per warrant. The net proceeds are intended to fully fund the completion of its Cavorite X7 prototype and advance the program toward testing, certification, and commercial production. Titan Partners Group LLC acted as the sole placement agent for the offering.
Key Highlights
- Raised approximately $25.0 million in gross proceeds through a registered direct offering.
- Sold 5,385,646 Class A ordinary shares at an offering price of $2.51 per share.
- Issued pre-funded warrants to purchase 4,574,514 Common Shares at $2.509 per warrant.
- Net proceeds will fully fund the completion of the Cavorite X7 prototype and advance toward testing, certification, and commercial production.
- Titan Partners Group LLC served as the sole placement agent, receiving a 7% cash fee.
- Placement agent also received warrants to purchase 3% of the securities sold, exercisable at $2.8865 per share.
- The offering is expected to close on or about May 27, 2026.
Price Impact
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