New Horizon Aircraft amends subscription agreement to cap Series A Preferred conversion under Nasdaq Rule 5635

New Horizon Aircraft Ltd.

Amendment adds Exchange Cap prohibiting Common Share issuance upon conversion of Series A Preferred if it breaches Nasdaq Listing Rule 5635, pending shareholder approval.
Company must obtain Required Shareholder Approval within 60 days (by ~March 11, 2025) and hold additional meetings if first attempt fails.
Until approval, company cannot engage in change-of-control transactions (merger, asset sale, liquidation, or >50% voting acquisition) without Purchasers' consent.
Amendment dated January 10, 2025, between New Horizon and purchasers Canso Investment Counsel, Canso Select Opportunities, and GRIP Investments.
Original Subscription Agreement terms from December 18, 2024, remain unchanged except as modified by this amendment.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.