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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n \n\nFORM 10-K\n\n \n\n(Mark One)\n\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the fiscal year ended May 31, 2026\n\n \n\nor\n\n \n\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the transition period from             to           \n\n \n\nCommission File Number 001-41607\n\n \n\nNEW HORIZON AIRCRAFT LTD.\n\n(Exact name of registrant as specified in its charter)\n\n \n\nBritish Columbia, Canada   98-1786743\n\n(State or other jurisdiction of   (IRS Employer\n\nincorporation or organization)   Identification No.)\n\n     \n\n3187 Highway 35\nLindsay, Ontario   K9V 4R1\n\n(Address of principal executive offices)   (Zip Code)\n\n \n\n(613) 866-1935\n\n(Registrant’s telephone number, including area code)\n\n \n\nNot applicable\n\n(Former name, former address and former fiscal year, if changed since last report)\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class   Trading Symbol(s)   Name of each exchange on which registered\n\n         \n\nClass A Ordinary Shares, no par value   HOVR   The Nasdaq Stock Market LLC\n\n         \n\nWarrants, each warrant exercisable for one Class A Ordinary Shares at an exercise price of $11.50 per share   HOVRW   The Nasdaq Stock Market LLC\n\n \n\nSecurities registered pursuant to section 12(g) of the Act: None\n\n \n\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒\n\n \n\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:\n\n \n\nLarge accelerated filer ☐ Accelerated filer ☐\n\nNon-accelerated filer ☒ Smaller reporting company ☒\n\n  Emerging growth company ☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐\n\n \n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐\n\n \n\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ \n\n \n\nThe aggregate market value of voting stock held by non-affiliates of the Registrant on November 28, 2025, based on the closing price of $1.65 for shares of the Registrant’s Class A ordinary shares as reported by The Nasdaq Global Market, was approximately $USD 72,477,248. Class A ordinary shares beneficially owned by each executive officer, director, and holder of more than 10% of our common stock have been excluded in that such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.\n\n \n\nAs of July 16, 2026, there were 66,825,837 of the registrant’s Class A ordinary shares, issued and outstanding.\n\n \n\nDOCUMENTS INCORPORATED BY REFERENCE\n\n \n\nNone.\n\n \n\n \n\n \n\n \n\n \n\n \n\nTABLE OF CONTENTS \n\n \n\n[PART I](#a_001)\n1"}