Brian Frederick Merker, Chief Financial Officer of New Horizon Aircraft Ltd. (HOVR), reported a purchase of 751 Class A Ordinary Shares on June 23, 2025. The shares were acquired at a weighted average price of $2.25 per share, with actual transaction prices ranging from $2.250 to $2.310.
Following this transaction, Merker's direct ownership increased to 32,351 shares. The purchase was executed through multiple transactions, and the reporting person has committed to provide detailed price information for each transaction upon request from the company, shareholders, or SEC staff.
Key Transaction Details:
- Transaction Type: Direct Purchase
- Security Type: Class A Ordinary Shares
- Ownership Form: Direct
- Filing Date: June 28, 2025
- Transaction Date: June 23, 2025
New Horizon Aircraft Chief Operating Officer and Director Jason Michael O'Neill reported an insider purchase of 656 Class A Ordinary Shares on June 23, 2025. The shares were acquired at a weighted average price of $2.25 per share, with actual purchase prices ranging from $2.250 to $2.310.
Following this transaction, O'Neill now directly owns 266,624 Class A Ordinary Shares of New Horizon Aircraft. The purchase was executed as a standard market transaction and was reported within the required filing deadline.
Key Transaction Details:
- Transaction Type: Direct Purchase
- Total Transaction Value: Approximately $1,476
- Filing Date: June 28, 2025
- Position: Chief Operating Officer and Director
- Transaction Code: P (Open market purchase)
New Horizon Aircraft (Nasdaq: HOVRW) filed an 8-K stating that on June 26 2025 Nasdaq confirmed the company has regained compliance with the $1.00 minimum bid-price requirement under Listing Rule 5550(a)(2). The prior deficiency has been cured and the matter is now closed, allowing the shares and warrants to remain on the Nasdaq Capital Market.
The notice is disclosed under Item 7.01 (Regulation FD); no financial statements or other material changes were reported. A press release detailing the notice is furnished as Exhibit 99.1.