secwatch.observer — SEC 8-K summary
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Issuer:     New Horizon Aircraft Ltd. (HOVR)
CIK:        0001930021
Form:       8-K
Filed at:   2025-01-13T23:59:59+00:00
Accession:  0001213900-25-002849
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1930021/000121390025002849/0001213900-25-002849-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1930021/000121390025002849/ea0227424-8k_newhorizon.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-002849

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