HOVR

Horizon Aircraft Share Sale: Horizon Aircraft has filed to sell 15.275 million Class A ordinary shares, aiming to raise $75 million through a mixed securities shelf offering.

Company Developments: The company has also appointed Wyzykowski as a Technical Expert to enhance its operational capabilities.

Horizon Aircraft Share Sale: Horizon Aircraft has filed to sell 24.73 million Class A ordinary shares for its holders, indicating a significant move in their financial strategy.

Additional Company Developments: The company has also filed a $75 million mixed securities shelf and appointed Wyzykowski as a Technical Expert to enhance its operational capabilities.

Horizon Aircraft Filing: Horizon Aircraft (HOVR) has filed a $75 million mixed securities shelf registration to raise capital.

Recent Developments: The company has recently regained compliance with Nasdaq listing requirements and appointed a new technical expert, among other strategic moves.

New Appointment: John Wyzykowski has joined Horizon Aircraft as a Technical Expert, bringing extensive experience in eVTOL propulsion systems from his previous role at Lilium. His expertise will support the development of the Cavorite X7's hybrid-electric propulsion system.

Cavorite X7 Features: The Cavorite X7 is designed to operate like a traditional aircraft for most of its mission, featuring a hybrid electric power system that allows for in-flight battery recharging and aims to enhance safety and certification processes compared to other eVTOL designs.

Horizon Aircraft's Cavorite X7 Delivery: Horizon Aircraft has signed a Letter of Intent with Discovery Air Chile to lease five Cavorite X7 hybrid eVTOL aircraft, expected to be delivered in 2028, aiming to enhance air transport efficiency in Chile.

Cost and Performance Benefits: The Cavorite X7 is designed to operate at nearly twice the speed of traditional helicopters while offering over 75% lower operating costs per mile, significantly improving transportation for passengers and critical goods.

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Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and timely updates.

Investment Announcement: New Horizon Aircraft Ltd. (HOVR) shares rose after the company secured an $8.4 million investment from a strategic investor, aimed at strengthening its balance sheet and funding the development of its hybrid eVTOL, the Cavorite X7.

Stock Performance: Following the investment news, HOVR stock increased by 26.8%, trading at 78 cents at the time of publication.

Investment Announcement: Horizon Aircraft has secured an $8.4 million investment from a strategic investor to enhance its financial stability and support the development of its hybrid electric Vertical TakeOff and Landing (eVTOL) aircraft, the Cavorite X7.

Future Plans: The funding will facilitate further flight testing and development of the Cavorite X7, with the company aiming for quick certification and market entry while prioritizing safety and operational utility.

U.S. Stock Market Performance: U.S. stocks saw gains with the Dow Jones rising over 400 points, while consumer discretionary shares surged by 1.9%. However, Monday.com Ltd's shares fell 18% despite reporting strong revenue growth and raising its 2024 guidance.

Global Market Trends: European shares increased, with the eurozone's STOXX 600 gaining 1.2%, while Asian markets closed mostly higher. China's inflation rate was slightly down, and vehicle sales rose year-over-year.

Revelation Biosciences Performance: Shares of Revelation Biosciences, Inc. surged 48.8% in pre-market trading after reporting a quarterly loss of 84 cents per share, significantly better than the expected loss of $2.84 per share.

Market Movements: Several stocks experienced notable pre-market gains, including New Horizon Aircraft Ltd (+68.2%) and Signing Day Sports, Inc. (+61.1%), while Dogwood Therapeutics, Inc. saw a significant decline of 29.7%.

Horizon Aircraft Participation: Horizon Aircraft will showcase its hybrid electric Vertical TakeOff and Landing (eVTOL) aircraft, the Cavorite X7, at the Japan International Aerospace Exhibition 2024 in Tokyo from October 16 to 19, highlighting its operational benefits and sustainability advancements.

Company Overview and Future Plans: Horizon Aircraft aims to complete testing and certification of the Cavorite X7 eVTOL quickly, with plans to enter the market and address various transportation needs while emphasizing safety, performance, and utility.

Company Updates: Horizon Aircraft is making significant progress in developing its hybrid electric Vertical TakeOff and Landing (eVTOL) aircraft, the Cavorite X7, with successful flight tests and advancements in key technologies such as propulsion units and digital twin technology.

Market Potential: The Cavorite X7 aims to revolutionize regional air travel by offering superior speed, range, and operational utility compared to traditional helicopters, positioning it well for applications in medical evacuation, supply delivery, and military missions.

Investor Interest in Small Companies: A study commissioned by Horizon Aircraft reveals that 76% of small and micro-cap fund managers expect increased institutional investment in small companies with sustainable technologies over the next year, indicating a potential shift in market focus.

Horizon Aircraft's eVTOL Development: Horizon Aircraft is developing the Cavorite X7, a hybrid electric Vertical Take-Off and Landing (eVTOL) aircraft designed for speed and efficiency, aiming to disrupt regional air travel and serve various critical missions while prioritizing safety and operational utility.

Public Offering Details: New Horizon Aircraft Ltd. closed a public offering of 2,800,000 Class A ordinary shares and accompanying warrants, raising approximately $2.9 million, with potential total proceeds of up to $7.25 million if all warrants are exercised.

Company Overview: Horizon Aircraft is developing a hybrid eVTOL aircraft, the Cavorite X7, aiming for quick testing and certification to serve various early use cases in the aerospace industry.

New Appointment: Horizon Aircraft has appointed Tom Brassington as Chief Technology Officer, bringing 17 years of aerospace systems engineering experience from Lilium to enhance the company's engineering capabilities and innovation in developing their eVTOL aircraft, the Cavorite X7.

Cavorite X7 Features: The Cavorite X7 is designed to operate like a traditional aircraft for most of its mission, featuring a hybrid electric power system that allows for battery recharging during flight and aims to excel in various sectors including medical evacuation and regional air mobility.

Public Offering Announcement: Horizon Aircraft has announced a public offering of 2.8 million Class A ordinary shares and warrants, with gross proceeds expected to be approximately $2.9 million, potentially rising to $7.25 million if all warrants are exercised.

Company Overview: Horizon Aircraft is developing hybrid eVTOL aircraft aimed at achieving high speed, range, and operational utility, with plans to complete testing and certification of its Cavorite X7 model soon.

Investment Trends in Small and Micro-Cap Stocks: A global study by Horizon Aircraft reveals that 76% of small and micro-cap fund managers expect increased investment from institutional investors, while 83% anticipate a rise in retail investor allocations over the next six to twelve months.

Horizon Aircraft's Cavorite X7 Development: Horizon Aircraft is developing the Cavorite X7, a hybrid eVTOL aircraft designed for various applications including medical evacuation and regional air mobility, with innovative features such as in-flight battery recharging and a focus on safety and performance.