New Horizon Aircraft Restructures Financing for Future Growth

An update from New Horizon Aircraft ( (HOVR) ) is now available.

Horizon Aircraft, a developer of hybrid electric eVTOLs, has announced the termination of a forward purchase agreement with Meteora Capital, eliminating a financing structure and potentially recording a $20-$25 million gain. This strategic move simplifies Horizon’s capital structure, as the company prepares for future growth in the aerospace market. As part of the agreement, Horizon will pay a termination fee and may issue additional shares if a resale registration is filed within 24 months.

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