secwatch.observer — SEC 8-K summary
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Issuer:     New Horizon Aircraft Ltd. (HOVR)
CIK:        0001930021
Form:       8-K
Filed at:   2024-08-20T23:59:59+00:00
Accession:  0001213900-24-070887
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1930021/000121390024070887/0001213900-24-070887-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1930021/000121390024070887/ea0211854-8k_newhorizon.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-070887

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer