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New Horizon Aircraft (HOVR) has provided an announcement.
New Horizon Aircraft Ltd. has launched a public offering of 5.8 million units at $0.50 each, potentially raising up to $7.25 million if all associated warrants are exercised. The offering consists of shares or pre-funded warrants plus additional warrants to buy more shares, with a 90-day lock-up period for company insiders. With the intention to bolster working capital and other corporate needs, the company has made arrangements with EF Hutton LLC, which includes a 7% underwriting discount and customary legal protections. The announcement followed the SEC’s approval of the offering on August 19, 2024.
See more insights into HOVR stock on TipRanks’ Stock Analysis page.