Horizon Aircraft has announced that it has entered into a definitive agreement with institutional investors for the purchase and sale of an aggregate of 9,254,889 Class A Ordinary Shares (“Common Shares”). The offering is expected to result in gross proceeds of approximately USD20 million, before deducting offering expenses. “The closing of the offering is expected to occur on or about May 8, 2026, subject to the satisfaction of customary closing conditions,” said the company in a press release. “Horizon Aircraft intends to use the net proceeds from the offering to fund and accelerate development and buildout of the Cavorite X7 aircraft program, as well as for working capital and general corporate purposes.”
“This financing reflects strong recognition of the strategic importance of Horizon Aircraft’s cutting-edge aerospace development,” said Brandon Robinson, CEO of Horizon Aircraft. “We are now equipped to enhance our ability to develop world-class innovative technologies, accelerate our commercialization timeline, and attract and retain elite talent. This funding is a significant milestone as we have expanded our institutional shareholder base, demonstrating commitment and confidence in our team’s ability to execute.”
Titan Partners, a division of American Capital Partners, is acting as the sole placement agent for the offering.
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