8-K: Horizon Aircraft Regains Nasdaq Listing Compliance, Averting Delisting Threat

New Horizon Aircraft Ltd. (Horizon Aircraft) announced it has successfully regained compliance with The Nasdaq Stock Market's minimum bid price requirement, ensuring its continued listing.

Summary

• New Horizon Aircraft Ltd. (NASDAQ: HOVR), operating as Horizon Aircraft, received notice from The Nasdaq Stock Market LLC on June 26, 2025, confirming its compliance with Nasdaq Listing Rule 5550(a)(2).
• This rule pertains to the minimum bid requirement for continued listing on the Nasdaq Capital Market.
• The notice signifies that the matter of non-compliance is now closed, removing the immediate threat of delisting.
• Horizon Aircraft is an advanced aerospace engineering company developing one of the world's first hybrid eVTOL (electric Vertical Take-Off and Landing) aircraft, the Cavorite X7.

Sentiment

Score: 8

Explanation: The document conveys highly positive news as the company successfully resolved a critical compliance issue that could have led to delisting, ensuring its continued presence on Nasdaq.

Positives

• The company has successfully regained compliance with Nasdaq's minimum bid requirement, eliminating the risk of delisting from the Nasdaq Capital Market.
• The matter regarding non-compliance is officially closed, providing stability for the company's public listing.

Risks

• The company previously faced a risk of delisting from the Nasdaq Capital Market due to non-compliance with the minimum bid requirement under Nasdaq Listing Rule 5550(a)(2), which has now been resolved.

Future Outlook

Horizon Aircraft intends to successfully complete testing and certification of its Cavorite X7 eVTOL aircraft and subsequently scale unit production to meet expected demand from regional operators, emergency service providers, and military customers.

Management Comments

• New Horizon Aircraft Ltd. announced that it has received notice from The Nasdaq Stock Market LLC informing the Company that it has regained compliance with the minimum bid requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market and that the matter is now closed.

Industry Context

This announcement is relevant within the advanced aerospace and urban air mobility (UAM) sectors, specifically for companies developing electric Vertical Take-Off and Landing (eVTOL) aircraft. Horizon Aircraft's focus on hybrid eVTOLs positions it within a niche aiming for extended range and operational utility compared to purely electric counterparts, addressing market segments like regional operations, emergency services, and military applications.

Stakeholder Impact

• Shareholders: The continued listing on Nasdaq provides stability and liquidity for investors, removing the uncertainty associated with potential delisting.
• Employees: Continued listing can contribute to company stability and morale.
• Customers/Partners: Maintains the company's public profile and credibility, which can be beneficial for future business relationships.

Next Steps

• Complete testing and certification of the Cavorite X7 eVTOL aircraft.
• Scale unit production of the Cavorite X7 to meet expected demand.

Key Dates

Recommendation

Keywords

Horizon Aircraft, New Horizon Aircraft, Nasdaq, Listing Compliance, Minimum Bid Requirement, eVTOL, Hybrid Aircraft, Aerospace Engineering, HOVR, Cavorite X7