other material
confidence high
sentiment positive
materiality 0.65
Horizon Aircraft terminates forward purchase agreement with Meteora; expects $20-25M gain
New Horizon Aircraft Ltd.
- Mutual termination of Forward Purchase Agreement with Meteora Capital; $200,000 cash termination fee paid.
- Company to issue 200,000 shares if a resale registration statement is filed within 24 months.
- Expects to record a gain of approximately $20-$25 million in Q2 ending November 30, 2024.
- Termination removes SPAC overhang and simplifies capital structure.