New Horizon Aircraft raises $25M in registered direct offering for Cavorite X7 prototype funding

In connection with the Offering, the Company entered into a Placement Agency Agreement, dated as of May 26, 2026, with Titan Partners Group LLC, a division of American Capital Partners, LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to serve as the sole placement agent for the issuance and sale of the Securities pursuant to the Purchase Agreements.

On May 26, 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 (i) 5,385,646 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”) and (ii) pre-funded warrants (the “Pre-Funded Warrants”, and together with the Shares, the “Securities”) to purchase 4,574,514 Common Shares (such Common Shares, the “Pre-Funded Warrant Shares”).