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New Horizon Aircraft Ltd. increased its at-the-market (ATM) offering to up to $50,000,000 of Common Shares under its Sales Agreement with JonesTrading. The company is no longer limited by General Instruction I.B.6 of Form S-3 after its public float rose above $75.0 million.
From March 25, 2025 through this supplement, the company sold 6,944,498 Common Shares for an aggregate purchase price of $14,875,463 under prior capacity. Following this increase, remaining ATM capacity is $35,124,537 as of this supplement’s date. The Common Shares trade on Nasdaq as “HOVR”; the last reported sale price on October 30, 2025 was $2.28 per share.
New Horizon Aircraft Ltd. (HOVR) will hold its annual meeting online on November 25, 2025 at 10:00 a.m. ET. Shareholders will vote to elect two Class II directors (John Maris and Jameel Janjua), appoint MNP LLP as auditor and independent registered public accounting firm for the year ending May 31, 2026, and approve the Employee Stock Purchase Plan.
The record date is October 21, 2025, when 43,355,189 Class A ordinary shares were outstanding and entitled to one vote per share. The meeting is virtual-only at https://www.cstproxy.com/newhorizonaircraft/2025 and requires a 12‑digit control number to participate.
The Board recommends a FOR vote on each nominee and on Proposals 2 and 3. Brokers may exercise discretion only on the auditor ratification. Voting is available by internet, telephone, mail, or during the live webcast for eligible holders.
New Horizon Aircraft Ltd. (HOVR) will hold its virtual annual meeting on November 25, 2025 at 10:00 a.m. ET. Shareholders will vote on three items: electing two Class II directors (John Maris and Jameel Janjua) to serve until the 2028 meeting, appointing MNP LLP as auditor and independent registered public accounting firm for the year ending May 31, 2026, and approving the Company’s Employee Stock Purchase Plan.
The record date is October 21, 2025. A quorum requires holders representing 33 1/3 percent of the voting power. The Board recommends voting FOR all proposals. The meeting is accessible via https://www.cstproxy.com/newhorizonaircraft/2025 using the 12‑digit control number.
Audit fees disclosed: MNP billed CAD 166k in audit fees, CAD 44k audit-related, and CAD 17k tax fees for fiscal 2025; for 2024, MNP billed CAD 54k audit and CAD 35k tax. Prior auditor Marcum billed CAD 271k audit and CAD 55k audit-related for 2024.
New Horizon Aircraft (HOVR) insider transaction: An officer of the company, serving as Head of People and Strategy, reported the sale of 100,000 Class A Ordinary Shares on 10/14/2025. The shares were sold at a weighted average price of $3.72, with individual trades executed between $3.450 and $3.910.
Following the sale, the reporting person beneficially owns 163,588 shares on a direct basis. This total includes 766 shares acquired under the company’s employee share purchase plan.
New Horizon Aircraft (HOVR) CEO and director Eric Brandon Robinson reported insider transactions on a Form 4. He sold 140,000 Class A Ordinary Shares on 10/14/2025 at a weighted average price of $3.838, with trades ranging from $3.680 to $4.000. He also reported a sale of 100,000 shares on 10/15/2025 at a weighted average price of $3.42, with trades ranging from $3.600 to $3.980.
Following these transactions, 1,372,510 shares were indirectly held through Robinson Family Ventures Inc., and 468,118 shares were held directly, which includes 639 acquired under the employee share purchase plan. For the 10/15 transaction, he noted no economic interest in the shares sold, which were the sole property of Brian Robinson at the time of sale.
New Horizon Aircraft Ltd. (HOVR) disclosed an insider transaction on a Form 4. Chief Executive Officer Brian Frederick Merker reported a sale of 46,000 Class A Ordinary Shares at a price of $4 per share on 10/15/2025 (Transaction Code: S).
Following this sale, Merker beneficially owns 265,286 shares directly. This balance includes 3,345 shares acquired under New Horizon Aircraft Ltd.'s employee share purchase plan, as noted in the footnote.
New Horizon Aircraft (HOVR) insider activity: An officer reported acquiring 57,143 Class A ordinary shares on 09/26/2025 via a transaction coded “M,” reflecting settlement of performance share units. The filing notes each unit represented a right to one share and vested in full when the company reached a market capitalization of $100,000,000.
On 10/09/2025, the officer reported a disposition of 22,515 shares at $3.42 per share under transaction code “F.” Following these transactions, the officer directly owned 262,822 Class A ordinary shares. The derivative balance related to the reported performance share units was 0 after settlement.
New Horizon Aircraft Ltd. (HOVR) filed a Form 4 reporting insider equity activity. COO and Director Jason Michael O’Neill acquired 217,143 Class A shares on 09/26/2025 upon conversion of performance share units after the company achieved a $100,000,000 market capitalization. On 10/09/2025, 93,334 shares were disposed at $3.42 under transaction code F. Following these transactions, O’Neill directly owns 445,407 shares.
The related derivative entry shows the performance share units converted into shares with $0 price and a remaining derivative balance of 0.
New Horizon Aircraft (HOVR) insider activity: the Chief Financial Officer reported equity transactions tied to performance share units. On 09/26/2025, 257,143 Class A ordinary shares were acquired (code M) upon vesting of performance share units. On 10/09/2025, 110,527 shares were withheld (code F) at $3.42 to cover taxes. Following these transactions, direct ownership stands at 307,941 Class A ordinary shares.
The performance share units vested in full when the company achieved a market capitalization of $100,000,000. The derivative balance associated with these performance share units is now 0 after settlement.