{"id":798892,"date":"2025-01-08T08:15:13","date_gmt":"2025-01-08T13:15:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/"},"modified":"2025-01-08T08:15:13","modified_gmt":"2025-01-08T13:15:13","slug":"horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/","title":{"rendered":"Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">~ Further Secures Balance Sheet, This Second Capital Infusion in Last 30 Days Totals $11.1 Million ~<\/p>\n<p align=\"justify\">TORONTO, Jan.  08, 2025  (GLOBE NEWSWIRE) &#8212; New Horizon Aircraft Ltd. (NASDAQ: HOVR), doing business as Horizon Aircraft (\u201cHorizon Aircraft\u201d or the \u201cCompany\u201d), a leading hybrid electric Vertical Take-Off and Landing (\u201ceVTOL\u201d) aircraft developer, announced today the exercise of 2.5 million warrants for gross proceeds of approximately $2.7 million. This additional working capital follows the Company\u2019s recent <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6QWsQuHBJcuR9Pfy3NpR48S3ReuW0MQd_fy8D3AMz_vNTb5UjtikUPnTrbWN6CTIE7QwsWiCbXd3BJA2fF_714ZHcT4yAHNAT3kkip8DC2qchQYx2E6ex1hyPnGGDa89v1KcoSdZRwglKF2bBIiqxg7PBBdwz7rfcOH-qk86eH2DdG83_C9NeoFO-Yw4lmGT4dsOXhtYglr_6kzT9ncTWXJoh3WABYRzwhB4X2xig0A=\" rel=\"nofollow\" target=\"_blank\">announcement<\/a> of a strategic investment of $8.4 million, totaling $11.1 million of capital infusion in the last 30 days.<\/p>\n<p align=\"justify\">Brandon Robinson, CEO and Co-founder of Horizon Aircraft, stated, \u201cWith support from a dedicated cohort of investors, we\u2019ve simplified our capital structure and further strengthened our balance sheet to aid in the development of our full-scale, 7-person hybrid eVTOL aircraft. We have an exciting 2025 ahead and are encouraged by the increasing interest and support for practical and safe aircraft designs.\u201d<\/p>\n<p align=\"justify\">\n        <strong>About Horizon Aircraft<\/strong>\n      <\/p>\n<p align=\"justify\">Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace engineering company that is developing one of the world\u2019s first hybrid eVTOL aircraft that is expected to perform most missions similar to a traditional aircraft while offering industry-leading speed, range, and operational utility. Horizon\u2019s unique designs put the mission first and prioritize safety, performance, and utility. Visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xaHnLm-qUTr9mAqm3ijgGOc2zz8K72wZsaz2TPioWlsbaeiAleoM5RfL5uphIjRvRbognyeBhfGe68EDuROvNHYFCVSa0G6DAdeI0j2IK-w=\" rel=\"nofollow\" target=\"_blank\">www.horizonaircraft.com<\/a> for more information.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">The information in this press release contains certain \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words \u201cbelieve,\u201d \u201cproject,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cstrategy,\u201d \u201caim,\u201d \u201cfuture,\u201d \u201copportunity,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cwill be,\u201d \u201cwill continue,\u201d \u201cwill likely result\u201d and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Horizon competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the ability of the parties to recognize the benefits of the business combination agreement and the business combination; (iv) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (v) statements regarding Horizon\u2019s industry and market size; (vi) financial condition and performance of Horizon, including the anticipated benefits, the implied enterprise value, the expected financial impacts of the business combination, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon; (vii) Horizon\u2019s ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (viii) successful completion of testing and certification of Horizon\u2019s Cavorite X7 eVTOL; (ix) the targeted future production of Horizon\u2019s Cavorite X7 aircraft; and (x) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the \u201cRisk Factors\u201d section of the Proxy Statement and other documents to be filed by New Horizon from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Horizon may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Horizon does not give any assurance that Horizon will achieve its expectations.<\/p>\n<p>\n        <strong>Investor Contact<\/strong>\n      <\/p>\n<p align=\"justify\">MZ Group<br \/>Phone: (203) 741-8841<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8IopW9M_gIQ4jr_vzIgFBBRL4Jxg0izX_KNe6U9by1143EaokZOXfYF6RB6OGcYNJdHTxhgdGq5VxPGDwWDWWXopZ4saMaHQmynyVPUvFMY0ZUpCpOaJE-Xi-wx-2Gl7\" rel=\"nofollow\" target=\"_blank\">HorizonAircraft@mzgroup.us<\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyNzk4MSM2NjgyODMwIzIyNjQyOTQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YTJlNGQzZmUtMmM1ZS00NjY5LWEwYWQtNjQ2Yzk3YTdhNjYzLTEyNzU4NDQ=\/tiny\/New-Horizon-Aircraft-Ltd-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>~ Further Secures Balance Sheet, This Second Capital Infusion in Last 30 Days Totals $11.1 Million ~ TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) &#8212; New Horizon Aircraft Ltd. (NASDAQ: HOVR), doing business as Horizon Aircraft (\u201cHorizon Aircraft\u201d or the \u201cCompany\u201d), a leading hybrid electric Vertical Take-Off and Landing (\u201ceVTOL\u201d) aircraft developer, announced today the exercise of 2.5 million warrants for gross proceeds of approximately $2.7 million. This additional working capital follows the Company\u2019s recent announcement of a strategic investment of $8.4 million, totaling $11.1 million of capital infusion in the last 30 days. Brandon Robinson, CEO and Co-founder of Horizon Aircraft, stated, \u201cWith support from a dedicated cohort of investors, we\u2019ve simplified our capital structure and further strengthened our balance &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-798892","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"~ Further Secures Balance Sheet, This Second Capital Infusion in Last 30 Days Totals $11.1 Million ~ TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) &#8212; New Horizon Aircraft Ltd. (NASDAQ: HOVR), doing business as Horizon Aircraft (\u201cHorizon Aircraft\u201d or the \u201cCompany\u201d), a leading hybrid electric Vertical Take-Off and Landing (\u201ceVTOL\u201d) aircraft developer, announced today the exercise of 2.5 million warrants for gross proceeds of approximately $2.7 million. This additional working capital follows the Company\u2019s recent announcement of a strategic investment of $8.4 million, totaling $11.1 million of capital infusion in the last 30 days. Brandon Robinson, CEO and Co-founder of Horizon Aircraft, stated, \u201cWith support from a dedicated cohort of investors, we\u2019ve simplified our capital structure and further strengthened our balance &hellip; Continue reading &quot;Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-08T13:15:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyNzk4MSM2NjgyODMwIzIyNjQyOTQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds\",\"datePublished\":\"2025-01-08T13:15:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\\\/\"},\"wordCount\":718,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTMyNzk4MSM2NjgyODMwIzIyNjQyOTQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\\\/\",\"name\":\"Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds - 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(NASDAQ: HOVR), doing business as Horizon Aircraft (\u201cHorizon Aircraft\u201d or the \u201cCompany\u201d), a leading hybrid electric Vertical Take-Off and Landing (\u201ceVTOL\u201d) aircraft developer, announced today the exercise of 2.5 million warrants for gross proceeds of approximately $2.7 million. This additional working capital follows the Company\u2019s recent announcement of a strategic investment of $8.4 million, totaling $11.1 million of capital infusion in the last 30 days. Brandon Robinson, CEO and Co-founder of Horizon Aircraft, stated, \u201cWith support from a dedicated cohort of investors, we\u2019ve simplified our capital structure and further strengthened our balance &hellip; Continue reading \"Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/","og_site_name":"Market Newsdesk","article_published_time":"2025-01-08T13:15:13+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyNzk4MSM2NjgyODMwIzIyNjQyOTQ=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds","datePublished":"2025-01-08T13:15:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/"},"wordCount":718,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyNzk4MSM2NjgyODMwIzIyNjQyOTQ=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/horizon-aircraft-announces-exercise-of-warrants-providing-an-additional-2-7-million-in-gross-proceeds\/","name":"Horizon Aircraft Announces Exercise of Warrants, Providing an Additional $2.7 Million in Gross Proceeds - 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