New Horizon Aircraft receives Nasdaq bid price deficiency notice for HOVR shares

New Horizon Aircraft Ltd.

Nasdaq notified company on July 19, 2024 that bid price closed below $1.00 for 30 consecutive business days.
Company has 180 calendar days (until January 15, 2025) to regain compliance by closing at $1.00+ for 10 consecutive days.
If not compliant by Jan 15, 2025, company may qualify for additional 180-day period if it meets other Nasdaq standards and intends reverse stock split.
No immediate delisting; shares continue trading on Nasdaq Capital Market under symbol HOVR.
Company expects to cure deficiency within the 180-day period but provides no assurance.

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