Horizon Aircraft Completes $25 Million Share Offering

Horizon Aircraft Ltd., listed on NASDAQ under HOVR, has closed a $25 million registered direct offering. This funding involves 9,960,160 Class A Ordinary Shares, transacted with institutional investors, as per the agreement announced earlier this month. The offering was executed under the guidance of Titan Partners from American Capital Partners.

The company plans to utilize the net proceeds to advance the Cavorite X7 prototype. These funds aim to support the aircraft's development towards testing, certification, and commercialization. The shares were issued via a prospectus associated with a shelf registration statement approved by the SEC.

This financial step does not equate to an offer to buy or sell securities without legal authorization. The caution around forward-looking statements highlights the potential risks and uncertainties, indicating that actual outcomes may vary.