secwatch.observer — SEC 8-K summary
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Issuer:     New Horizon Aircraft Ltd. (HOVR)
CIK:        0001930021
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0001213900-24-015540
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

New Horizon Aircraft amends forward purchase agreement with Meteora, adding up to $5M prepayment shortfall and warrants
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- Amendment dated Feb 14, 2024 revises prepayment shortfall to 5.0% of product of Recycled Shares and Initial Price.
- Company may request up to $5,000,000 via twenty $250,000 Additional Shortfall Requests, subject to equity conditions.
- Seller may at its discretion request Shortfall Warrants for up to 10,000,000 shares or 19.99% of outstanding Class A ordinary shares.
- New registration rights require HOVR to file resale registration statement within 30 days of seller request.
- Company restricted from issuing or selling shares until Shortfall Sales equal total potential prepayment shortfall.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1930021/000121390024015540/0001213900-24-015540-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1930021/000121390024015540/ea0200315-8k_newhoriz.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-015540

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