New Horizon Aircraft Announces Public Offering and SEC Approval
Company Announcements

New Horizon Aircraft Announces Public Offering and SEC Approval

New Horizon Aircraft (HOVR) has provided an announcement.

New Horizon Aircraft Ltd. has launched a public offering of 5.8 million units at $0.50 each, potentially raising up to $7.25 million if all associated warrants are exercised. The offering consists of shares or pre-funded warrants plus additional warrants to buy more shares, with a 90-day lock-up period for company insiders. With the intention to bolster working capital and other corporate needs, the company has made arrangements with EF Hutton LLC, which includes a 7% underwriting discount and customary legal protections. The announcement followed the SEC’s approval of the offering on August 19, 2024.

See more insights into HOVR stock on TipRanks’ Stock Analysis page.

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