New Horizon Aircraft prices $2.9M public offering of units at $0.50/unit

New Horizon Aircraft Ltd.

Offering consists of 5.8M units, each with one share (or pre-funded warrant) and one warrant; exercise price $0.75/share, 5-year expiry.
Gross proceeds ~$2.9M ($7.25M if warrants fully exercised in cash); expected to close August 21, 2024.
Net proceeds to fund working capital and general corporate purposes.
EF Hutton LLC is sole book-running manager; 90-day lock-up for directors and officers.
Registration statement on Form S-1 declared effective by SEC on August 19, 2024.

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