UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01. Entry into a Material Definitive Agreement.
On September 5, 2024, New Horizon Aircraft Ltd., a British Columbia company (the “Company”), amended the terms of each of the outstanding warrants originally issued on August 21, 2024 (the “Warrants”) in connection with the closing of its firm commitment underwritten public offering (the “Warrant Amendment”).
The Warrant Amendment amends the Common Shares Purchase Warrants, dated August 21, 2024, to remove Section 3(b), which provided for an exercise price adjustment in the event of a dilutive issuance of the Company’s Class A ordinary shares (“Common Shares”) or other securities convertible into Common Shares, at a price less than the exercise price then in effect immediately prior to such dilutive issuance.
The foregoing description of the Warrant Amendment is subject to and qualified in its entirety by reference to the full text of the form of the Warrant Amendment, a copy of which is included as Exhibit 10.1 hereto, the terms of which are incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Form of Warrant Amendment | |
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL). |
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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: September 5, 2024 | By: | /s/ E. Brandon Robinson |
| Name: | E. Brandon Robinson | |
| Title: | Chief Executive Officer | |
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