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New Horizon Aircraft Ltd. (NASDAQ:HOVR) announced Friday that it has raised the maximum aggregate offering price of its Class A ordinary shares issuable under its Capital on Demand Sales Agreement with JonesTrading Institutional Services LLC to $50 million. This total includes shares previously sold under the agreement.
According to a statement in the company’s SEC filing, as of Friday, $35,124,537 of Class A ordinary shares remain available for issuance under the agreement. The company also filed a prospectus supplement in connection with the increased offering capacity.
A legal opinion regarding the legality of the shares covered by the agreement and prospectus supplement was filed as an exhibit to the current report.
The information is based on a press release statement included in the company’s SEC filing.
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