New Horizon Aircraft Ltd. Files 8-K on Listing Rule Compliance
Ticker: HOVRW · Form: 8-K · Filed: Jan 27, 2025 · CIK: 1930021
Sentiment: neutral
Topics: listing-rules, delisting-notice, company-update
TL;DR
Horizon Aircraft might be delisted - check the 8-K for details.
AI Summary
New Horizon Aircraft Ltd. filed an 8-K on January 27, 2025, reporting a notice of delisting or failure to satisfy continued listing rules, a Regulation FD disclosure, and financial statements. The company, formerly Pono Capital Three, Inc., is incorporated in British Columbia and has a fiscal year end of May 31. The filing date for this report is January 27, 2025, with the earliest event reported on January 22, 2025.
Why It Matters
This filing indicates potential issues with New Horizon Aircraft Ltd.'s continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: medium — The filing explicitly mentions 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard,' indicating a direct risk to the company's exchange listing.
Key Numbers
- 001-41607 — Commission File Number (Identifies the company's SEC filing history.)
- 0531 — Fiscal Year End (Indicates the end of the company's annual accounting period.)
Key Players & Entities
- New Horizon Aircraft Ltd. (company) — Registrant
- Pono Capital Three, Inc. (company) — Former Company Name
- January 22, 2025 (date) — Earliest event reported date
- January 27, 2025 (date) — Filing date
- 001-41607 (company) — Commission File Number
FAQ
What specific listing rule or standard has New Horizon Aircraft Ltd. failed to satisfy?
The filing does not specify the exact rule or standard in the provided text, only that a notice has been issued.
What are the potential consequences of failing to satisfy continued listing rules?
Failure to satisfy listing rules can lead to delisting from the stock exchange, which would significantly impact the liquidity and trading of the company's securities.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on January 22, 2025.
What was the former name of New Horizon Aircraft Ltd.?
The former name of New Horizon Aircraft Ltd. was Pono Capital Three, Inc.
What is the business address of New Horizon Aircraft Ltd.?
The business address is 3187 Highway 35, Lindsay, A6, K9V 4R1.
Filing Stats: 1,437 words · 6 min read · ~5 pages · Grade level 13.7 · Accepted 2025-01-27 17:25:18
Key Financial Figures
- $11.50 — Ordinary Share at an exercise price of $11.50 per share HOVRW The Nasdaq Stock M
- $500,000 — et income from continuing operations of $500,000 in the most recently completed fiscal y
- $35 million — Company's listed securities be at least $35 million) or Nasdaq Listing Rule 5550(b)(1) (the
- $2.5 million — intain stockholders' equity of at least $2.5 million) (the Net Income Standard, the Market V
- $1.00 — ("Class A ordinary shares"), was below $1.00 per share for thirty (30) consecutive b
Filing Documents
- ea0228724-8k_newhorizon.htm (8-K) — 45KB
- ea022872401ex99-1_new.htm (EX-99.1) — 8KB
- ex99-1_001.jpg (GRAPHIC) — 4KB
- 0001213900-25-007097.txt ( ) — 281KB
- hovr-20250122.xsd (EX-101.SCH) — 4KB
- hovr-20250122_def.xml (EX-101.DEF) — 26KB
- hovr-20250122_lab.xml (EX-101.LAB) — 36KB
- hovr-20250122_pre.xml (EX-101.PRE) — 25KB
- ea0228724-8k_newhorizon_htm.xml (XML) — 6KB
01. Regulation
Item 7.01. Regulation FD. On January 27, 2025, the Company issued a press release announcing that the Company had regained compliance with the Continued Listing Standards and that the Company was eligible for the Second Compliance Period. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information set forth in this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. Forward-Looking This Current Report on Form 8-K (this "Form 8-K") contains forward-looking statements. Such forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company's future activities, or future events or conditions, including those related to future compliance with the Bid Price Rule or such reverse stock split, which can be identified by terminology such as "may," "will," "expects," "anticipates," "aims," "potential," "future," "intends," "plans," "believes," "estimates," "continue," "likely to" and other similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are not historical facts and are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by its management. These of which are beyo
01. Financial
Item 9.01. Financial (d) Exhibits. Exhibit No. Description 99.1 Press Release dated as of January 27, 2025. 104 Cover Page Interactive Data File (formatted in Inline XBRL). 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NEW HORIZON AIRCRAFT LTD. Date: January 27, 2025 By: /s/ E. Brandon Robinson Name: E. Brandon Robinson Title: Chief Executive Officer 3