Nelson Mullins is proud to have represented New Horizon Aircraft Ltd. (NASDAQ: HOVR) (the “Company”) in connection with the closing of its recently announced overnight registered direct offering, resulting in approximately $20 million in gross proceeds to the Company, before deducting placement agent fees and offering expenses. Titan Partners, a division of American Capital Partners, acted as sole placement agent for the offering.

Horizon Aircraft 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. The Company intends to use the net proceeds from the offering to fund and accelerate development and buildout of the Cavorite X7 aircraft program, as well as for working capital and general corporate purposes.

The firm’s deal team included partner E. Peter Strand associate Kathryn Simons. For more information, please click here.