New Horizon Aircraft Shares Fall 19% Offering

New Horizon Aircraft Ltd. shares dropped 19.2% on Thursday after announcing a dilutive equity offering.
The company will sell 9,254,889 Class A ordinary shares to raise about $20 million in gross proceeds.
Net proceeds will fund the Cavorite X7 hybrid‑electric VTOL aircraft program, working capital and general corporate purposes.
The offering is slated to close around May 8, 2026; Titan Partners acts as sole placement agent; shelf registration effective March 25, 2025.