New Horizon Aircraft

Closed (deSPAC)

Profile in progress

What it is: Horizon Aircraft Ltd
What it’s doing now: Merging with Pono Capital Three, Inc. (PTHR) — closed (despac).
What you should know: The deal carries a $5M minimum-cash condition — heavy redemptions can break it.

The business, per its filings

SEC primary

Horizon Aircraft Ltd. Horizon Aircraft (NASDAQ:HOVR) is an advanced aerospace company that is developing one of the world’s first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft designed to fly most of its mission in traditional wing-borne flight, offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety and performance. Upon successful completion of testing and certification of its full-scale aircraft, Horizon Aircraft intends to scale unit production to meet expected demand from regional aircraft operators, emergency service providers, and military customers. For further information, visit: Website www.horizonaircraft.com LinkedIn https://www.linkedin.com/company/horizon-aircraft-inc On behalf of New Horizon Aircraft Ltd. Brandon Robinson Co-Founder and CEO For further information, contact: Investors: Kathryn Burns ir@horizonaircraft.com Media: Edwina Frawley-Gangahar EFG Media Relations +44 7580 174672 edwina@efgmediarelations.com Forward-looking Statements This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “target,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-loo

What the company says about itself

Web research — not audited

New Horizon Aircraft Ltd. designs the Cavorite X7, a hybrid-electric eVTOL aircraft featuring patented HOVR fan-in-wing technology. The aircraft is capable of vertical takeoff and transition to gas-powered forward flight, offering high speed (460 km/hr), long range (800 km), and low operating costs. It is designed for missions including medevac, defense, search and rescue, and commercial operations.

Markets:: medevac | defense | search and rescue | commercial | military | municipal emergency services
Products:: Cavorite X7

What our web check found

[WEB-INTEL 2026-08-26] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The gross proceeds to the Company were approximately $25 million, before deducting offering expenses." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Beginning January 16, 2024, the combined company will operate as New Horizon Aircraft, Ltd. ("Horizon Aircraft") and the common shares and ..." [https://gowlingwlg.com/en/insights-resources/client-work/2023/horizon-aircraft-goes-public-via-spac-transaction] [WEB-INTEL 2026-08-27] 3 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The gross proceeds to the Company were approximately $25 million, before deducting offering expenses." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft closed a registered direct sale of 9.25M Class A shares, raising about $20M to fund its Cavorite X7 hybrid-electric ..." [https://www.stocktitan.net/sec-filings/HOVR/8-k-new-horizon-aircraft-ltd-reports-material-event-daacdf271451.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "In May 2026, New Horizon Aircraft Ltd. completed a registered direct follow-on equity offering of US$19.90 million, issuing 9,254,889 Class ..." [https://simplywall.st/stocks/us/capital-goods/nasdaq-hovr/new-horizon-aircraft/news/does-new-horizon-aircrafts-hovr-discounted-equity-raise-reca] [WEB-INTEL 2026-08-27] 5 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The gross proceeds to the Company were approximately $25 million, before deducting offering expenses." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The offering is expected to result in gross proceeds of approximately $25 million, before deducting offering expenses." [https://finance.yahoo.com/markets/stocks/articles/horizon-aircraft-ltd-announces-pricing-154000106.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "In May 2026, New Horizon Aircraft Ltd. completed a registered direct follow-on equity offering of US$19.90 million, issuing 9,254,889 Class ..." [https://simplywall.st/stocks/us/capital-goods/nasdaq-hovr/new-horizon-aircraft/news/does-new-horizon-aircrafts-hovr-discounted-equity-raise-reca] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft has closed an offering of Class A ordinary shares, raising approximately $20 million in gross proceeds. shares at $2.4725 ..." [https://www.aero-news.net/index.cfm?do=main.textpost&id=76145FB7-9B1E-4972-B5BA-7E916D0CE25E] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft has priced a $25 million offering of ~9.96M Class A shares to institutional investors, closing ~May 27, 2026." [https://www.instagram.com/p/DY2QOf1Do_T/] [WEB-INTEL 2026-08-27] 4 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The gross proceeds to the Company were approximately $25 million, before deducting offering expenses." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "In May 2026, New Horizon Aircraft Ltd. completed a registered direct follow-on equity offering of US$19.90 million, issuing 9,254,889 Class ..." [https://simplywall.st/stocks/us/capital-goods/nasdaq-hovr/new-horizon-aircraft/news/does-new-horizon-aircrafts-hovr-discounted-equity-raise-reca] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft has closed an offering of Class A ordinary shares, raising approximately $20 million in gross proceeds. shares at $2.4725 ..." [https://www.aero-news.net/index.cfm?do=main.textpost&id=76145FB7-9B1E-4972-B5BA-7E916D0CE25E] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft has priced a $25 million offering of ~9.96M Class A shares to institutional investors, closing ~May 27, 2026." [https://www.instagram.com/p/DY2QOf1Do_T/] [WEB-INTEL 2026-08-31] 3 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The gross proceeds to the Company were approximately $25 million, before deducting offering expenses." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft closed a registered direct sale of 9.25M Class A shares, raising about $20M to fund its Cavorite X7 hybrid-electric ..." [https://www.stocktitan.net/sec-filings/HOVR/8-k-new-horizon-aircraft-ltd-reports-material-event-daacdf271451.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "In May 2026, New Horizon Aircraft Ltd. completed a registered direct follow-on equity offering of US$19.90 million, issuing 9,254,889 Class ..." [https://simplywall.st/stocks/us/capital-goods/nasdaq-hovr/new-horizon-aircraft/news/does-new-horizon-aircrafts-hovr-discounted-equity-raise-reca] [WEB-INTEL 2026-08-31] 3 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The gross proceeds to the Company were approximately $25 million, before deducting offering expenses." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-285000) initially filed with the Securities and Exchange Commission ("SEC") on February 14, 2025, and declared effective by the SEC on March 25, 2025" [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Beginning January 16, 2024, the combined company will operate as New Horizon Aircraft, Ltd. ("Horizon Aircraft") and the common shares and ..." [https://gowlingwlg.com/en/insights-resources/client-work/2023/horizon-aircraft-goes-public-via-spac-transaction] [WEB-INTEL 2026-08-31] 4 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The gross proceeds to the Company were approximately $25 million, before deducting offering expenses." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft closed a registered direct sale of 9.25M Class A shares, raising abo [WEB-INTEL 2026-09-01] 11 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The gross proceeds to the Company were approximately $25 million, before deducting offering expenses." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Registered direct offering closing announced May 27, 2026" [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Priced 9.96M shares targeting $25M gross proceeds via registered direct." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Closed 9.25M-share direct offering raising $20M gross for Cavorite X7." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Priced 9.25M-share offering for $20M gross under Form S-3." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "2.5M warrants exercised for $2.7M gross plus recent $8.4M investment." [https://www.stocktitan.net/news/HOVR/new-horizon-aircraft-ltd-announces-closing-of-25-million-offering-of-zn8x1iu73r0c.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "In May 2026, New Horizon Aircraft Ltd. completed a registered direct follow-on equity offering of US$19.90 million, issuing 9,254,889 Class ..." [https://simplywall.st/stocks/us/capital-goods/nasdaq-hovr/new-horizon-aircraft/news/does-new-horizon-aircrafts-hovr-discounted-equity-raise-reca] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft has closed an offering of Class A ordinary shares, raising approximately $20 million in gross proceeds. shares at $2.4725 ..." [https://www.aero-news.net/index.cfm?do=main.textpost&id=76145FB7-9B1E-4972-B5BA-7E916D0CE25E] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "New Horizon Aircraft has priced a $25 million offering of ~9.96M Class A shares to institutional investors, closing ~May 27, 2026." [https://www.instagram.com/p/DY2QOf1Do_T/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "With the significant progress made towards merger completion the Company expects to close early in the first quarter of 2024." [https://www.horizonaircraft.com/horizon-aircraft-releases-investor-materials/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Beginning January 16, 2024, the combined company will operate as New Horizon Aircraft, Ltd. ("Horizon Aircraft") and the common shares and ..." [https://gowlingwlg.com/en/insights-resources/client-work/2023/horizon-aircraft-goes-public-via-spac-transaction]

Source: https://www.horizonaircraft.com/ · captured Sep 1, 2026 · marketing claims are reported as claims, never merged into the filed figures above.

The deal it’s entering

New Horizon Aircraft is merging with Pono Capital Three, Inc. (PTHR) currently marked Closed (deSPAC).

Headline equity value	—
Minimum cash to close	$5M

Structure per SEC accession(s) 0001213900-23-076435, 0001213900-24-095191. How to read these numbers: headline vs effective valuation · what a definitive agreement commits

What exactly is being valued, and at what

Common questions

Is New Horizon Aircraft going public?

New Horizon Aircraft has an approved merger with the SPAC Pono Capital Three, Inc. (PTHR). Deal status: Closed (deSPAC).

Does New Horizon Aircraft have revenue?

The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.

Educational content, not investment advice.