New Horizon Aircraft Ltd. (HOVRW) company profile
Close on Oct 30, 2026Market cap $79.86MP/E –Yield –
About New Horizon Aircraft
Aircraft, SIC 3721
New Horizon Aircraft Ltd., operating as Horizon Aircraft, is an aerospace original equipment manufacturer that designs and develops hybrid-electric vertical takeoff and landing aircraft for the regional air mobility market. Its primary product under development is the Cavorite X7, a seven-seat aircraft featuring patented fan-in-wing technology that combines vertical takeoff and landing capabilities with conventional aerodynamic forward flight. The company focuses on the advanced air mobility sector, aiming to serve both civilian and military markets, and plans to license its proprietary aerospace intellectual property.
The company maintains its principal executive offices in Lindsay, Ontario, Canada. It operates within the regional air mobility industry, designing aircraft intended for travel ranges between 50 and 500 miles. Engineering and flight evaluation operations include testing scaled prototypes and pursuing certification with Transport Canada Civil Aviation.
Summary of the business section of New Horizon Aircraft's latest annual report, written by StockData.
Company profile
Company
- Legal name
- New Horizon Aircraft Ltd.
- Headquarters
- Lindsay, A6
- Address
- 3187 Highway 35 K9V 4R1
- Phone
- (613) 866-1935
- Website
- horizonaircraft.com
- Employees
- 56, May 31, 2026
- Industry
- Aircraft
- Incorporated in
- A1
- Fiscal year ends
- May 31
- Auditor
- MNP LLP, Toronto, Canada
Stock & identifiers
- Ticker
- HOVRW
- Other tickers
- HOVR
- Exchange
- Nasdaq
- IPO date
- Feb 10, 2023
- Shares outstanding
- 67M, Jul 16, 2026
- Public float
- $72.48M, Nov 28, 2025
- Filer category
- <br>Emerging growth company
- SEC CIK
- 1930021
- CUSIP
- 64550A115
- ISIN
- CA64550A1158
- FIGI
- BBG01G3N7FK6
- EIN
- 00-0000000
Executives and directors
Officers and directors who filed ownership reports (Forms 3, 4, 5) in the last two years
| Name | Position | Shares owned |
|---|---|---|
| Eric Brandon Robinson | Chief Executive Officer, Director | 2,058,829 |
| Stewart Murray Lee | Head of People and Strategy | 243,386 |
| Jason Michael O'Neill | Chief Operating Officer | 527,691 |
| Brian Frederick Merker | Chief Financial Officer | 402,100 |
| Thomas Joseph Hearne | Director | – |
| Trisha Nomura | Director | 176,257 |
| Jameel Janjua | Director | 14,145 |
| John Harold Charles Pinsent | Director | 74,093 |
| John Michael Maris | Director | 71,867 |
Executive compensation, fiscal 2025
Summary compensation table from the latest proxy statement
| Executive | Salary | Bonus | Stock awards | Option awards | Total | vs. prior year |
|---|---|---|---|---|---|---|
| Brandon Robinson Chief Executive Officer | $369.04K | $52.79K | $102.20K | $212.00K | $736.02K | +172% |
| Jason O’Neill Chief Operating Officer | $254.13K | $38.25K | $74.27K | $156.88K | $523.53K | +147% |
| Brian Merker Chief Financial Officer | $269.58K | $38.25K | $84.76K | $183.32K | $574.92K | +205% |
Stock and option awards are grant-date fair values, not realized pay. “Other” includes pension value changes and all other compensation. Source proxy statement.
IPO
From the final prospectus (Form 424B4) and the first day of trading
SPAC offering
- Type
- SPAC (blank check) IPO of units
- Final prospectus filed
- Feb 10, 2023
- Offer price
- $10.00
- Securities offered
- 10,000,000
- Gross proceeds
- $100.00M
- Exchange
- Nasdaq
- First trading day
- Apr 3, 2023
- First-day close
- $10.21+2.1%
- Lock-up ends (est.)
- Sep 30, 2023
“Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one redeemable warrant.”
Lock-up end is estimated as 180 days after the first trading day; the prospectus sets the actual terms.
Employees
Headcount reported in annual reports
“As of July 16, 2026, we had 56 employees in Canada and 2 employees outside of Canada.”
Corporate history
Events identified from SEC filings