New Horizon Aircraft raises ~$20M in registered direct offering of 9.25M shares at $2.15

New Horizon Aircraft Ltd.

Offering of 9,254,889 Class A ordinary shares at $2.15 per share for gross proceeds of ~$19.9M.
Proceeds to fund development and buildout of Cavorite X7 hybrid-electric VTOL aircraft and working capital.
Closing expected May 8, 2026; Titan Partners acted as sole placement agent for $1.4M fee and 277,647 warrants.
Company subject to 45-day lock-up on further share issuances and registration statements post-closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

New Horizon Aircraft Ltd. entered into Purchase Agreements with certain institutional investors valued at aggregate gross proceeds ... of approximately $19.9 million (effective 2026-05-06).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: aggregate gross proceeds ... of approximately $19.9 million
Effective: 2026-05-06

Exact text from the filing

On May 6, 2026, New Horizon Aircraft Ltd. (the “Company”) entered into Securities Purchase Agreements (the “Purchase Agreements”) with certain institutional investors, pursuant to which the Company agreed to sell and issue, in a registered direct offering (the “Offering”) an aggregate of 9,254,889 our Class A ordinary shares, without par value (the “Shares", and each Class A ordinary share with no par value in the authorized share structure of the Company, a “Common Share”). The offering price per Share is $2.15, for aggregate gross proceeds to the Company from the Offering of approximately $19.9 million

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New Horizon Aircraft Ltd. filing history →

Source: SEC EDGAR

accession 0001213900-26-053524

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