New Horizon Aircraft Ltd., also known as Horizon Aircraft, announced a common stock offering of approximately $20 million to bolster the development of its hybrid-electric VTOL aircraft, the Horizon Cavorite X7.

The company reported that it reached a definitive agreement with institutional investors for the sale of more than 9.2 million Class A shares, with the goal of raising capital primarily for the technological advancement and construction of the Cavorite X7 program, as well as for operating capital and general corporate purposes.

According to Horizon Aircraft, the closing of the transaction is expected on May 8, 2026, subject to customary closing conditions. The offering is being managed by Titan Partners, a division of American Capital Partners, as the exclusive placement agent.

Horizon Aircraft CEO Brandon Robinson stated that this funding represents strategic recognition of the company’s work in developing next-generation hybrid aircraft and will accelerate the commercialization process, strengthen technological capabilities, and attract specialized talent.

The Cavorite X7 is one of the most closely watched hybrid-electric projects in the advanced air mobility (AAM) market, standing out for its VTOL capability and for using a hybrid system that aims to reduce downtime associated with fully charging batteries compared to all-electric aircraft.

The transaction also expands the presence of institutional investors in the company, a move often seen by the market as a sign of confidence in the company’s growth and technological potential.

Source: Horizon Aircraft