Horizon 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 USD25 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,” said the company in a press release. “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.”
“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.”
Titan Partners, a division of American Capital Partners, is acting as the sole placement agent for the offering.
For more information
https://www.accessnewswire.com/newsroom/en/industrial-and-manufacturing/new-horizon-aircraft-ltd.-announces-pricing-of-25-million-offering-of-1170393
(Image: Horizon Aircraft)