Dustin Shindo Decreases Stake in New Horizon Aircraft Ltd. Below 5% Threshold

Dustin M. Shindo filed Amendment No. 3 to Schedule 13D for New Horizon Aircraft Ltd. (HOVR) on May 28, 2026, reporting a decrease in beneficial ownership. As of the event date on May 27, 2026, Mr. Shindo holds 2,656,000 Class A Ordinary Shares, representing 4.1% of the company, down from a previously reported higher percentage. This reduction in ownership percentage is primarily attributed to a significant increase in the issuer's total outstanding shares following multiple offerings in May 2026, which brought the total share count to 64,478,397. Additionally, Mr. Shindo executed several open-market transactions on May 22 and May 26, 2026, selling 14,918 Class A Ordinary Shares at a weighted average price of $3.19 and disposing of 445,375 warrants. Consequently, Shindo ceased to be a beneficial owner of more than 5% of the company. His current holdings include 120,000 shares issuable upon the exercise of private placement warrants.