Mehana Capital LLC - Jan 12, 2024 Form 4 Insider Report for New Horizon Aircraft Ltd. (HOVR)

Role
Former 10% Owner
Signature
/s/ Mehana Capital LLC, by Nelson Mullins Riley & Scarborough LLP with Power of Attorney
Stock symbol
HOVR
Transactions as of
Jan 12, 2024
Transactions value $
$0
Form type
4
Date filed
9/18/2024, 09:15 PM
Previous filing
Feb 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HOVR Class A Ordinary Shares without par value Other $0 -2.77M -49.45% $0.00 2.83M Jul 19, 2024 Direct F1
transaction HOVR Class A Ordinary Shares without par value Other $0 -240K -8.48% $0.00 2.59M Jul 31, 2024 Direct F2
transaction HOVR Class A Ordinary Shares without par value Other -1.37M -52.69% 1.23M Sep 9, 2024 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HOVR Private Placement Warrants Other +565K 565K Jan 12, 2024 Class A Ordinary Shares without par value 565K $11.50 Direct F4
transaction HOVR Private Placement Warrants Other -565K -100% 0 Jul 19, 2024 Class A Ordinary Shares without par value 565K $11.50 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Mehana Capital LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On July 19, 2024, Mehana Capital LLC ("Mehana") effected a pro rata distribution of Class A ordinary shares to its members.
F2 On July 31, 2024, Mehana effected a pro rata distribution of Class A ordinary shares to its members.
F3 On September 9, 2024, Mehana transferred the reported securities to certain of its members (the "Members") in connection with share and transfer agreements entered into by Mehana and the Members, releasing Mehana from all obligations and liability arising from the Members' ownership of and relationship with Mehana.
F4 On January 12, 2024, the Issuer completed its initial business combination (the "Closing"), and in connection therewith, the private placement warrants issued to Mehana in connection with the Issuer's initial public offering as part of the private placement units (the "Private Placement Warrants") became exercisable 30 days following the Closing.
F5 On July 19, 2024, Mehana distributed the Private Placement Warrants to one of its members.