SoFi CEO enters prepaid forward contract on 1.5 million shares
Brian Frederick Merker, Chief Financial Officer of New Horizon Aircraft LTD (HOVR:HOVR), acquired 751 shares of the company’s Class A Ordinary Shares on June 23, 2025. The shares were purchased at a weighted average price ranging from $2.250 to $2.310, resulting in a total transaction value of $1,689.
Following the transaction, Merker directly owns 32,351 shares of New Horizon Aircraft LTD, a company currently valued at $47.39 million. InvestingPro analysis suggests the stock is slightly overvalued at its current price of $1.74, with detailed valuation metrics available to subscribers.
In other recent news, Horizon Aircraft has announced a strategic partnership with MT-Propeller to supply propellers for its Cavorite X7 aircraft, marking the company’s first major hardware commitment as it transitions to manufacturing. This collaboration aims to enhance the aircraft’s speed, efficiency, and noise reduction. Additionally, Horizon Aircraft has achieved a significant milestone with the successful full wing transition of its Cavorite X7 prototype, a critical step in its development process. The company is focusing on completing testing and certification to meet demand from various sectors, including regional operators and emergency services.
Oak Ridge Financial recently initiated coverage on Horizon Aircraft with a Buy rating and set a price target of $2.35, reflecting confidence in the company’s prospects in the Advanced Air Mobility market. Horizon Aircraft is currently in the design phase of its commercial Cavorite X7, which will feature vertical takeoff and landing capabilities. Furthermore, Horizon Aircraft has regained compliance with Nasdaq’s minimum bid requirement, closing a previously open compliance matter. These developments underscore Horizon Aircraft’s ongoing efforts to establish itself as a key player in the emerging eVTOL market.
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