New Horizon Aircraft closes $2.9M public offering of units at $0.50 per unit

New Horizon Aircraft Ltd.

Gross proceeds ~$2.9M from the offering, up to ~$7.25M if warrants exercised in full for cash.
Offering of 2,800,000 Class A ordinary shares with warrants and pre-funded warrants for 3,000,000 shares.
Warrants have exercise price $0.75 per share, pre-funded warrants $0.00001, both exercisable immediately.
EF Hutton LLC acted as sole book-running manager for the offering.
Offering closed on August 21, 2024.

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