New Horizon Aircraft (HOVR) has released an update.
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New Horizon Aircraft Ltd. has amended its forward purchase agreement with Meteora Capital Partners and its affiliates, adjusting terms related to prepayment shortfalls and introducing Shortfall Warrants. The company now has more flexibility to request additional shortfall funds under specific conditions and the seller has the freedom to sell shares or exercise warrants without being liable for early termination obligations. These changes aim to secure financial operations and provide the seller with additional rights to manage shares and warrants, reinforcing the partnership’s structure and potential financial stability.
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