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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
October 9, 2026
NEW HORIZON AIRCRAFT LTD.
(Exact name of registrant as specified in its charter)
| British Columbia |
|
001-41607 |
|
98-1786743 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
| 3187 Highway 35, Lindsay, Ontario |
|
K9V 4R1 |
| (Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (613) 866-1935
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered
pursuant to Section 12(b) of the Act:
| Title of Each Class |
|
Trading Symbol(s) |
|
Name of Each Exchange on Which Registered |
| Class A Ordinary Share, no par value |
|
HOVR |
|
The Nasdaq Stock Market LLC |
| Warrants, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share |
|
HOVRW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02. Results of Operations
and Financial Condition.
On October 9, 2026,
New Horizon Aircraft Ltd. (the “Company”) issued a press release announcing its financial and operating results for the quarter
ended August 31, 2026. The Company will also host an earnings call on October 9, 2026, during which the Company will discuss its financial
results for the quarter ended August 31, 2026 and provide a business update. A copy of the press release is furnished as Exhibit 99.1
to this Current Report on Form 8-K.
The information
in Item 2.02 of this Current Report on Form 8-K and the press release furnished as Exhibit 99.1 hereto shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended,
or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial
Statements and Exhibits.
(d) Exhibits
The following exhibits
are being filed herewith:
| Exhibit No. |
|
Description |
| 99.1 |
|
Press Release, dated October 9, 2026 |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
NEW HORIZON AIRCRAFT LTD. |
| |
|
|
| Date: October 9, 2026 |
By: |
/s/ E. Brandon Robinson |
| |
Name: |
E. Brandon Robinson |
| |
Title: |
Chief Executive Officer |
Exhibit 99.1
Horizon Aircraft Reports
Fiscal 2027 First Quarter Results and Advances Full-Scale Cavorite X7 Development
TORONTO, October 9, 2026 - New Horizon Aircraft
Ltd. (“Horizon Aircraft” or the “Company”) (NASDAQ: HOVR), a Canadian aerospace company developing one of the first
hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today reported its financial and operational results for the first quarter
of fiscal 2027 ended August 31, 2026.
Recent Highlights:
| ● | Strong
liquidity: More than $70 million in cash as of August 31, 2026, which management expects to be sufficient to fund its current operating
plan for at least the next 24 months; |
| ● | Strategic
allocation of capital: The Company significantly increased research and development (R&D)
spending in relation to general and administrative (G&A) spending to advance the Cavorite
X7 program, which remains on track to begin initial testing in early calendar 2027. The full-scale
demonstrator aircraft is expected to be completed by the first quarter of calendar 2027,
followed by ground and taxi testing and then flight testing; |
| ● | Progress
toward certification: The Company has had several meetings with Transport Canada to design
and build the full-scale demonstrator aircraft in a manner that supports progress toward
certification; |
| ● | Acceleration
through strategic partnerships: Development of the Cavorite X7 demonstrator aircraft
continues to advance with support from strategic partners including BETA Technologies, Marshall
Aerospace, RAMPF Composite Solutions, and North Aircraft Industries; and |
| ● | Growing
commercial interest: To date, the Company has signed letters of intent totalling more
than US$1 billion in potential aircraft sales, representing up to 200 aircraft purchases
and 5 aircraft leases. |
“Strategic
capital allocation and consistent financial discipline are keeping us on track to complete the full-scale demonstrator around
the end of the first quarter of calendar 2027, followed by ground testing and then flight testing,” said Brandon Robinson, CEO of
Horizon Aircraft. “We’re not just building a demonstrator. We are investing early in the engineering, systems integration, and flight-control
architecture needed to support a disciplined program with a foundation built for certification. As we advance toward commercialization
and expand our global customer base, we look forward to keeping our customers, partners and shareholders updated on our progress.”
Webcasted Earnings Call
Horizon Aircraft will host a webcast and conference
call on Friday, October 9, 2026 at 8:30 a.m. Eastern Time to discuss its financial results and provide a business update. The webcast
will feature a video presentation by Horizon Aircraft CEO Brandon Robinson and CFO Brian Merker, accompanied by supporting visual content.
Guests can join the live webcast on Horizon
Aircraft’s investor relations website at https://ir.horizonaircraft.com/events-presentations
or access an audio-only version by telephone at 888-506-0062 from North America and at 973-528-0011 from international numbers (Access
Code: 310518). An archive of the webcast will be available on the “Investors” section of the Company’s website following
the call.
About Horizon Aircraft
Horizon Aircraft (NASDAQ: HOVR) is an advanced
aerospace company developing one of the world’s first hybrid-electric VTOL 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’s financial statements are prepared in accordance
with U.S. generally accepted accounting principles (U.S. GAAP).
For further information, visit:
Website www.horizonaircraft.com
YouTube https://www.youtube.com/@horizonaircraft
LinkedIn https://www.linkedin.com/company/horizon-aircraft-inc
Information on Horizon Aircraft’s website
does not constitute a part of and is not incorporated by reference into this press release.
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-looking statements herein include, but are not limited to, statements relating to the targeted readiness
of the full-scale hybrid Cavorite X7 eVTOL demonstrator aircraft for initial testing, development priorities and technical milestones;
the Cavorite X7’s design specifications, anticipated operational parameters and projected performance, including assumptions regarding
operating costs, fuel consumption, maintenance costs and utilization rates; funding and liquidity sufficiency and runway; certification
and testing plans; and potential production, partnership, supply chain and market opportunities.
Forward-looking statements are predictions,
projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject
to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should
not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ
materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which
Horizon Aircraft competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk
that Horizon Aircraft will need to raise additional capital to execute its business plans, which may not be available on acceptable terms
or at all; (iii) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue;
(iv) statements regarding Horizon Aircraft’s industry and market size; (v) financial condition and performance of Horizon Aircraft, including
the condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon Aircraft;
(vi) Horizon Aircraft’s ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (vii) successful
completion of testing and certification of Horizon Aircraft’s Cavorite X7 eVTOL; (viii) the targeted future production of Horizon Aircraft’s
Cavorite X7 aircraft; and (ix) other factors detailed by us in the Company’s public filings with the SEC and under the Company’s profile
on sedarplus.ca, including the disclosures under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for
the fiscal year ended May 31, 2026, filed with the SEC and filed under the Company’s profile on sedarplus.ca on July 16, 2026. These filings
identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those
contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance
on forward-looking statements, and while the Company may elect to update these forward-looking statements at some point in the future,
it assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events,
or otherwise, unless required by applicable law. Horizon Aircraft does not give any assurance that Horizon Aircraft will achieve its expectations.
