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New Horizon Aircraft ( (HOVR) ) has shared an announcement.
New Horizon Aircraft Ltd. has secured a strategic investment of $8.4 million, which will bolster its financial stability and support the continued development and testing of its hybrid eVTOL, the Cavorite X7. This funding, facilitated through a subscription agreement with multiple investors, reflects a deepening commitment to the company’s goals, including market entry and addressing governance and regulatory priorities.
More about New Horizon Aircraft
Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace engineering company focused on developing hybrid electric Vertical TakeOff and Landing (eVTOL) aircraft. The company is known for its innovative designs that prioritize safety, performance, and operational utility, aiming to enter the market with its Cavorite X7 eVTOL, which combines traditional aircraft capabilities with hybrid electric technology.
YTD Price Performance: -93.02%
Average Trading Volume: 3,819,483
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $14.3M
See more data about HOVR stock on TipRanks’ Stock Analysis page.