EX-99.1 2 ea029240801ex99-1.htm PRESS RELEASE, DATED MAY 27, 2026 Exhibit 99.1 New Horizon Aircraft Ltd. Announces Closing of $25 Million Offering of Common Shares Toronto, Canada, May 27, 2026 - New Horizon Aircraft Ltd. (“Horizon Aircraft” or the “Company”) (NASDAQ:HOVR), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today announced the closing of its previously announced registered direct offering pursuant to a definitive agreement with the same institutional investors from its May 8, 2026 offering for the purchase and sale of an aggregate of 9,960,160 Class A Ordinary Shares (“Common Shares”) (or Common Share equivalents). The gross proceeds to the Company were approximately $25 million, before deducting offering expenses. The Company intends to use the net proceeds from the offering to fully fund the completion of the Cavorite X7 prototype and advance the program toward testing, certification and commercial production. Titan Partners, a division of American Capital Partners, acted as the sole placement agent for the offering. The offering was made pursuant to a shelf registration statement on Fo…
Open exhibit ↗Current Report · Items 7.01, 9.01 · 8-K
New Horizon Aircraft Ltd.
HOVRNASDAQEQUITYCurrent
Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On May 27, 2026, New Horizon Aircraft Ltd. (the “Company”) issued a press release announcing the closing of its previously announced registered direct offering. A copy of this press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.…
Company context
Horizon Aircraft (NASDAQ:HOVR) is an advanced aerospace company that is developing one of the world’s first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft designed to fly most of its mission in traditional wing-borne flight, offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety and performance. Upon successful completion of testing and certification of its full-scale aircraft, Horizon Aircraft intends to scale unit production to meet expected demand from regional aircraft operators, emergency service providers, and military customers.