secwatch.observer — SEC 8-K summary
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Issuer:     New Horizon Aircraft Ltd. (HOVR)
CIK:        0001930021
Form:       8-K
Filed at:   2026-05-27T12:57:03+00:00
Accession:  0001213900-26-061264
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

New Horizon Aircraft raises $25M in registered direct offering for Cavorite X7 prototype funding
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- Gross proceeds ~$25M from sale of 9,960,160 Class A ordinary shares (or equivalents) at $2.51/share.
- Pre-funded warrants for 4,574,514 shares at $0.001 exercise price; closing expected May 27, 2026.
- Net proceeds to fully fund completion of Cavorite X7 hybrid-electric VTOL prototype and advance toward testing/certification.
- Offering led by largest existing U.S. institutional shareholders; Titan Partners sole placement agent (7% fee).
- Company locked from issuing additional common shares or equivalents for 45 days post-closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1930021/000121390026061264/0001213900-26-061264-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1930021/000121390026061264/ea0292131-8k_newhorizon.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-061264

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer