New Horizon Aircraft is trading at $1.77 (6.8% up) in pre-market, driven by a significant Letter of Intent (LOI) and a recent update on its financial runway. - The company announced an LOI with V-Star Powered Lift Aviation for the purchase of up to 100 Cavorite X7 hybrid-electric VTOL aircraft, with a potential transaction value of $600 million. - This follows a July 16 update revealing a strengthened balance sheet with $78.3 million in cash, providing over 24 months of liquidity to complete the Cavorite X7 demonstrator. - Management reaffirmed guidance for the first full-scale prototype tests to take place in Q1 2027.