The offering was led by the Company&#39;s largest existing U.S. institutional shareholders TORONTO, ON / ACCESS Newswire / May 26, 2026 / New Horizon Aircraft Ltd. (&#34;Horizon Aircraft&#34; or the &#34;Company&#34;) (NASDAQ:HOVR), an

<p><i><strong>The offering was led by the Company's largest existing U.S. institutional shareholders</strong></i></p> <p><strong id="dateline">TORONTO, ON / <a href='https://www.accessnewswire.com/'>ACCESS Newswire</a> / May 26, 2026 / </strong>New Horizon Aircraft Ltd. ("Horizon Aircraft" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOVR">HOVR</a>), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today announced that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 9,960,160 Class A Ordinary Shares ("Common Shares") (or Common Share equivalents). The offering is expected to result in gross proceeds of approximately $25 million, before deducting offering expenses. The closing of the offering is expected to occur on or about May 27, 2026, subject to the satisfaction of customary closing conditions. Horizon Aircraft 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.</p><p>"This financing reflects strong continued support from our existing institutional investors and further validates the strategic significance of Horizon Aircraft's next-generation aerospace platform," said Brandon Robinson, CEO of Horizon Aircraft. "We are now equipped to fully fund completion of our Cavorite X7 prototype and advance the program toward testing, certification, and commercial production, positioning Horizon Aircraft to advance its differentiated technologies and continue building a leading aerospace organization focused on disciplined execution and long-term value creation."</p><p>Titan Partners, a division of American Capital Partners, is acting as the sole placement agent for the offering.</p><p>The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-285000) initially filed with the Securities and Exchange Commission ("SEC") on February 14, 2025, and declared effective by the SEC on March 25, 2025 (the "Registration Statement"). The Common Shares (or Common Share equivalents) are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective Registration Statement. A prospectus supplement and accompanying prospectus relating to, and describing the terms of, the offering will be filed with the SEC and will be available for free on the SEC's website at <a rel="nofollow" href="https://pr.report/lx0i">www.sec.gov</a>. Electronic copies of the prospectus supplement and accompanying prospectus may also be obtained, when available, by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 49th Floor, New York, NY 10007, by phone at (929) 833-1246 or by email at <a rel="nofollow" href="mailto:prospectus@titanpartnersgrp.com">prospectus@titanpartnersgrp.com</a>.</p><p>This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.</p><p><strong>About New Horizon Aircraft Ltd.</strong></p><p>Horizon Aircraft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOVR">HOVR</a>) 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.</p><p>For further information, visit:<br/>Website <a rel="nofollow" href="https://pr.report/lx01">www.horizonaircraft.com</a><br/>LinkedIn <a rel="nofollow" href="https://pr.report/lx02">https://www.linkedin.com/company/horizon-aircraft-inc</a></p><p><strong>On behalf of New Horizon Aircraft Ltd.</strong></p><p>Brandon Robinson<br/>Co-Founder and CEO</p><p><strong>For further information, contact:</strong></p><p><strong>Investors:</strong><br/>Kathryn Burns<br/><a rel="nofollow" href="mailto:ir@horizonaircraft.com">ir@horizonaircraft.com</a></p><p><strong>Media:</strong><br/>Edwina Frawley-Gangahar<br/>EFG Media Relations<br/>+44 7580 174672<br/><a rel="nofollow" href="mailto:edwina@efgmediarelations.com">edwina@efgmediarelations.com</a></p><p><strong>Forward-looking Statements</strong></p><p>This press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "target," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements herein include, but are not limited to, statements relating to the targeted readiness of the full-scale hybrid Cavorite X7 eVTOL demonstrator aircraft for initial testing, development priorities and technical milestones; the Cavorite X7's design specifications, anticipated operational parameters and projected performance, including assumptions regarding operating costs, fuel consumption, maintenance costs and utilization rates; funding and liquidity sufficiency and runway; certification and testing plans; and potential production, partnership, supply chain and market opportunities.</p><p>Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Horizon Aircraft competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon Aircraft will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Horizon Aircraft's industry and market size; (v) financial condition and performance of Horizon Aircraft, including the condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon Aircraft; (vi) Horizon Aircraft's ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (vii) successful completion of testing and certification of Horizon Aircraft's Cavorite X7 eVTOL; (viii) the targeted future production of Horizon Aircraft's Cavorite X7 aircraft; and (ix) other factors detailed by us in the Company's public filings with the SEC and under the Company's profile on sedarplus.ca, including the disclosures under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2025, filed with the SEC and filed under the Company's profile on sedarplus.ca on August 22, 2025. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.</p><p>Readers are cautioned not to put undue reliance on forward-looking statements, and while the Company may elect to update these forward-looking statements at some point in the future, it assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by applicable law. Horizon Aircraft does not give any assurance that Horizon Aircraft will achieve its expectations.</p><p><strong>SOURCE: </strong>Horizon Aircraft</p><br/><br/>View the original <a href='https://www.accessnewswire.com/newsroom/en/industrial-and-manufacturing/new-horizon-aircraft-ltd.-announces-pricing-of-25-million-offering-of-1170393'>press release</a> on ACCESS Newswire<br/><br/>
      <img src="https://app.accessnewswire.com/img.ashx?id=1170393" width="0" height="0"/>

HOVR

New Horizon Aircraft Ltd. Announces Pricing of $25 Million Offering of Common Shares

Horizon Aircraft raises $25M to fund Cavorite X7 prototype development

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>The offering was led by the Company&amp;#39;s largest existing U.S. institutional shareholders TORONTO, ON / ACCESS Newswire / May 26, 2026 / New Horizon Aircraft Ltd. (&amp;#34;Horizon Aircraft&amp;#34; or the &amp;#34;Company&amp;#34;) (NASDAQ:HOVR), an</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>New Horizon Aircraft announced a roughly $25 million equity offering led by its largest U.S. institutional holders to fully fund the Cavorite X7 prototype and advance testing, certification, and potential production. Closing is targeted around May 27, 2026, with Titan Partners as sole placement agent. The financing signals strong sponsor support and could lift investor confidence in HOVR&#039;s near-term milestones.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Horizon Aircraft to raise about $25M via 9.96M shares. Closing around May 27, 2026.</li><li>Proceeds fund Cavorite X7 prototype development and testing.</li><li>Led by top U.S. institutional investors. Titan Partners acts as sole placement agent.</li><li>Filed shelf registration; SEC Form S-3 for the offering.</li><li>Objective: certification and commercial production progress.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Horizon Aircraft Ltd. (HOVR) (HOVR)</strong>: Primary issuer; funds to finish Cavorite X7 and progress certification and production.</li><li><strong>Titan Partners Group LLC (N/A)</strong>: Sole placement agent; facilitates the $25M equity offering.</li><li><strong>American Capital Partners (N/A)</strong>: Parent firm of Titan Partners; backstops the placement arrangement.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. This is a capital-raising event that directly affects Horizon’s liquidity and equity base, with potential implication for HOVR’s valuation if X7 milestones are met or delayed.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Closing around May 27, 2026 could impact HOVR&#039;s near-term stock trajectory.</li><li>Institutional investor backing may attract secondary demand and credibility.</li><li>Dilution from ~9.96 million new shares could exert pressure on the share count.</li><li>No pricing terms disclosed; potential for additional equity tranches.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Gross proceeds approx $25 million.</li><li>Aggregate shares: 9,960,160 Class A Ordinary Shares (or equivalents).</li><li>Closing targeted on/around May 27, 2026.</li><li>Titan Partners Group LLC is sole placement agent.</li><li>Use of proceeds: complete Cavorite X7 prototype and advance testing, certification, production.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term upside for HOVR if X7 milestones advance and the offering closes smoothly within weeks.</p>
  </section>
</section>


<p><i><strong>The offering was led by the Company's largest existing U.S. institutional shareholders</strong></i></p> <p><strong id="dateline">TORONTO, ON / <a href='https://www.accessnewswire.com/'>ACCESS Newswire</a> / May 26, 2026 / </strong>New Horizon Aircraft Ltd. ("Horizon Aircraft" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOVR">HOVR</a>), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today announced that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 9,960,160 Class A Ordinary Shares ("Common Shares") (or Common Share equivalents). The offering is expected to result in gross proceeds of approximately $25 million, before deducting offering expenses. The closing of the offering is expected to occur on or about May 27, 2026, subject to the satisfaction of customary closing conditions. Horizon Aircraft 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.</p><p>"This financing reflects strong continued support from our existing institutional investors and further validates the strategic significance of Horizon Aircraft's next-generation aerospace platform," said Brandon Robinson, CEO of Horizon Aircraft. "We are now equipped to fully fund completion of our Cavorite X7 prototype and advance the program toward testing, certification, and commercial production, positioning Horizon Aircraft to advance its differentiated technologies and continue building a leading aerospace organization focused on disciplined execution and long-term value creation."</p><p>Titan Partners, a division of American Capital Partners, is acting as the sole placement agent for the offering.</p><p>The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-285000) initially filed with the Securities and Exchange Commission ("SEC") on February 14, 2025, and declared effective by the SEC on March 25, 2025 (the "Registration Statement"). The Common Shares (or Common Share equivalents) are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective Registration Statement. A prospectus supplement and accompanying prospectus relating to, and describing the terms of, the offering will be filed with the SEC and will be available for free on the SEC's website at <a rel="nofollow" href="https://pr.report/lx0i">www.sec.gov</a>. Electronic copies of the prospectus supplement and accompanying prospectus may also be obtained, when available, by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 49th Floor, New York, NY 10007, by phone at (929) 833-1246 or by email at <a rel="nofollow" href="mailto:prospectus@titanpartnersgrp.com">prospectus@titanpartnersgrp.com</a>.</p><p>This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.</p><p><strong>About New Horizon Aircraft Ltd.</strong></p><p>Horizon Aircraft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOVR">HOVR</a>) 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.</p><p>For further information, visit:<br/>Website <a rel="nofollow" href="https://pr.report/lx01">www.horizonaircraft.com</a><br/>LinkedIn <a rel="nofollow" href="https://pr.report/lx02">https://www.linkedin.com/company/horizon-aircraft-inc</a></p><p><strong>On behalf of New Horizon Aircraft Ltd.</strong></p><p>Brandon Robinson<br/>Co-Founder and CEO</p><p><strong>For further information, contact:</strong></p><p><strong>Investors:</strong><br/>Kathryn Burns<br/><a rel="nofollow" href="mailto:ir@horizonaircraft.com">ir@horizonaircraft.com</a></p><p><strong>Media:</strong><br/>Edwina Frawley-Gangahar<br/>EFG Media Relations<br/>+44 7580 174672<br/><a rel="nofollow" href="mailto:edwina@efgmediarelations.com">edwina@efgmediarelations.com</a></p><p><strong>Forward-looking Statements</strong></p><p>This press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "target," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements herein include, but are not limited to, statements relating to the targeted readiness of the full-scale hybrid Cavorite X7 eVTOL demonstrator aircraft for initial testing, development priorities and technical milestones; the Cavorite X7's design specifications, anticipated operational parameters and projected performance, including assumptions regarding operating costs, fuel consumption, maintenance costs and utilization rates; funding and liquidity sufficiency and runway; certification and testing plans; and potential production, partnership, supply chain and market opportunities.</p><p>Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Horizon Aircraft competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon Aircraft will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Horizon Aircraft's industry and market size; (v) financial condition and performance of Horizon Aircraft, including the condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon Aircraft; (vi) Horizon Aircraft's ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (vii) successful completion of testing and certification of Horizon Aircraft's Cavorite X7 eVTOL; (viii) the targeted future production of Horizon Aircraft's Cavorite X7 aircraft; and (ix) other factors detailed by us in the Company's public filings with the SEC and under the Company's profile on sedarplus.ca, including the disclosures under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2025, filed with the SEC and filed under the Company's profile on sedarplus.ca on August 22, 2025. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.</p><p>Readers are cautioned not to put undue reliance on forward-looking statements, and while the Company may elect to update these forward-looking statements at some point in the future, it assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by applicable law. Horizon Aircraft does not give any assurance that Horizon Aircraft will achieve its expectations.</p><p><strong>SOURCE: </strong>Horizon Aircraft</p><br/><br/>View the original <a href='https://www.accessnewswire.com/newsroom/en/industrial-and-manufacturing/new-horizon-aircraft-ltd.-announces-pricing-of-25-million-offering-of-1170393'>press release</a> on ACCESS Newswire<br/><br/>
      <img src="https://app.accessnewswire.com/img.ashx?id=1170393" width="0" height="0"/>

New Horizon Aircraft announced a roughly $25 million equity offering led by its largest U.S. institutional holders to fully fund the Cavorite X7 prototype and advance testing, certification, and potential production. Closing is targeted around May 27, 2026, with Titan Partners as sole placement agent. The financing signals strong sponsor support and could lift investor confidence in HOVR's near-term milestones.

New Horizon Aircraft Ltd. Announces Pricing of $25 Million Offering of Common Shares

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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