New Horizon Aircraft Ltd. - Class A Ordinary Shares (HOVR)

EQNX::TICKER_START (NASDAQZENA),NASDAQ:SPAINASDAQSPAI)(NASDAQ:PRZONASDAQPRZO,(NASDAQ:HOVRNASDAQ),(NYSE:UMACUMAC) EQNX::TICKER_END

John Wyzykowski joins from Lilium, bringing significant eVTOL technical experience

Horizon Aircraft Shares to Remain Listed on Nasdaq

PALM BEACH, Fla., Feb. 27, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - According to a recent article issued by Fact.MR, the global drone surveying market is expected to grow at a CAGR of 19.3% during the forecast period of 2023 to 2033. The report said: “The drone surveying market is witnessing increased demand for its services across different industries. The survey done by drones has multiple benefits in comparison to the traditional way of surveys such as lower cost, reduced time, and improved end results. The drone covers a larger area within less amount of time and money for a survey if compared with the traditional or conventional way of surveys. Since the data is captured and generated with actual imagery, it also brings better transparency in the end result. All these benefits have resulted in increased demand from governments and real estate development companies for drone surveying services. The drone surveying service providers are entering into partnerships with companies and the government to carry out surveys on their behalf for the planning and development of urban areas and townships. The image and data collected from the drone surveys are more accurate and can be converted into meaningful output as per the requirements. This helps governments and infrastructure development companies in different stages of planning in township development, urban planning, and land surveys. The continuous advancement of technology in the drone market has led to increased demand for their products and services. The services or task performed by a drone has significantly improved in the last few years which has ultimately resulted in improved demand.”   Active Companies in the Drone Industry today include ZenaTech, Inc. (NASDAQZENA), Safe Pro Group Inc. NASDAQ: SPAINASDAQSPAI)(NASDAQ: PRZONASDAQPRZO, New Horizon Aircraft (NASDAQ: HOVRNASDAQ), Unusual Machines (NYSE: UMACUMAC).

~ Horizon Aircraft Will Deliver 5 Cavorite X7s in 2028 ~

~ Further Secures Balance Sheet, This Second Capital Infusion in Last 30 Days Totals $11.1 Million ~

~ Deepens Investor’s Dedication to Horizon Aircraft Supporting Continued Operations and Development ~

~ Expects to Record a Gain of ~$20-25 Million in its Second Quarter from the Termination of the FPA ~

TORONTO, Nov. 06, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft Ltd. (NASDAQHOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a leading hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, announced today that Brandon Robinson, CEO, and Jason O’Neill, COO, will participate in the 13th Annual Roth Technology Conference being held November 19 - 20, 2024, at the Hard Rock Hotel in New York City. Horizon Aircraft’s management team will conduct one-on-one and small group meetings on Wednesday, November 20.

TORONTO, Oct. 09, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft Ltd. (NASDAQHOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a leading hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, announced today that it will attend the Japan International Aerospace Exhibition 2024 (“JA2024”) being held October 16 to 19, 2024 in Tokyo, Japan at the Tokyo Big Site.

Full Transition of Large-Scale Prototype by End of 2024

TORONTO, Sept. 05, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft Ltd. (NASDAQHOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), the advanced aerospace engineering company and developer of an electric Vertical Take-Off and Landing (eVTOL) aircraft, has commissioned a study that indicates a strong return by investors to small and micro-cap companies with unique and sustainable technologies may be imminent.

TORONTO, Aug. 21, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft (NASDAQHOVR), today closed its previously announced underwritten public offering of (i) 2,800,000 of its Class A ordinary shares, no par value per share, and accompanying warrants to purchase up to 2,800,000 of its Class A ordinary shares, and (ii) to certain investors, pre-funded warrants to purchase up to an aggregate of 3,000,000 Class A ordinary shares and accompanying warrants to purchase up to an aggregate of 3,000,000 Class A ordinary shares. Each Class A ordinary share and accompanying warrant are being sold together at a combined public offering price of $0.50, and each pre-funded warrant and accompanying warrant are being sold together at a combined public offering price of $0.50. Each Warrant will have an exercise price $0.75 per share, be exercisable immediately upon issuance and expire five years from the date of issuance. Each pre-funded warrant will have an exercise price of $0.00001 per share and will be exercisable immediately after the original issue date until the pre-funded warrant is exercised in full. The gross proceeds to Horizon Aircraft from the offering, before deducting the underwriting discounts and other offering expenses, are approximately $2.9 million, assuming no exercise of warrants, and up to approximately $7.25 million, assuming the warrants are exercised in full for cash.

Tom Brassington joins from Lilium, bringing significant eVTOL industry experience

TORONTO, Aug. 20, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft (NASDAQHOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), an advanced aerospace engineering company and developer of hybrid eVTOL (electric Vertical Take-Off and Landing) aircraft, today announced the pricing of an underwritten public offering of (i) 2,800,000 of its Class A ordinary shares, no par value per share, and accompanying warrants to purchase up to 2,800,000 of its Class A ordinary shares, and (ii) to certain investors, pre-funded warrants to purchase up to an aggregate of 3,000,000 Class A ordinary shares and accompanying warrants to purchase up to an aggregate of 3,000,000 Class A ordinary shares. Each Class A ordinary share and accompanying warrant are being sold together at a combined public offering price of $0.50, and each pre-funded warrant and accompanying warrant are being sold together at a combined public offering price of $0.50. Each Warrant will have an exercise price $0.75 per share, be exercisable immediately upon issuance and expire five years from the date of issuance. Each pre-funded warrant will have an exercise price of $0.00001 per share and will be exercisable immediately after the original issue date until the pre-funded warrant is exercised in full. The gross proceeds to Horizon Aircraft from the offering, before deducting the underwriting discounts and other offering expenses, are expected to be approximately $2.9 million, assuming no exercise of warrants, and up to approximately $7.25 million, assuming the warrants are exercised in full for cash. The offering is expected to close on August 21, 2024, subject to customary closing conditions.

TORONTO, July 15, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft Ltd. (NASDAQHOVR), doing business as Horizon Aircraft (“Horizon” or the “Company”), a leading hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, announced today that it will attend the Farnborough International Airshow 2024 being held July 22-26, 2024 in Farnborough, England at the Farnborough International Exhibition & Conference Centre. The leading international aerospace and defense industry event features five days of unrivalled opportunities to discover the latest pioneering technology and engineering, announce historic partnerships, and collaboratively work towards the cumulative sustainable aerospace vision.

Phil Kelly is a Harrier Jump Jet Pilot and Former Head of Aircraft Development for the UK Royal Navy and Royal Marines

TORONTO, May 23, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft Ltd. (NASDAQHOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a leading hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, announced today that the Company will participate in a virtual fireside chat during the Jefferies eVTOL / AAM Summit on Thursday, May 30, 2024 at 9:10am Eastern Time.

~ Continued Flight-Testing Progress Approaching Full Transition to Forward Flight of the Company’s Large-Scale Prototype eVTOL Aircraft ~

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of New Horizon Aircraft Ltd. (“New Horizon” or the “Company”) (NASDAQ: HOVR, HOVRW) investors concerning the Company’s possible violations of the federal securities laws.

Law Offices of Howard G. Smith announces an investigation on behalf of New Horizon Aircraft Ltd. (“New Horizon” or the “Company”) (NASDAQ: HOVR, HOVRW) investors concerning the Company’s possible violations of federal securities laws.

The Law Offices of Frank R. Cruz announces an investigation of New Horizon Aircraft Ltd. (“New Horizon” or the “Company”) (NASDAQ: HOVR, HOVRW) on behalf of investors concerning the Company’s possible violations of federal securities laws.

~ Substantive Progress in the Transition to Forward Flight Test Program of the Company’s Large-Scale Prototype eVTOL Aircraft ~

65% of Japanese professional investors believe the need to address transportation issues amidst increasing urban populations will be a key driver of eVTOL market growth

TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft Ltd. (NASDAQHOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a leading hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, announced today the Company is scheduled to participate in the 36th Annual Roth Conference being held on Monday, March 18th and Tuesday, March 19th at the Ritz Carlton Laguna Niguel in Dana Point, CA.