Aerospace engineering firm Horizon Aircraft has announced that it has entered into a binding agreement with its parent company, Astro Aerospace and several of Astro's key shareholders. The deal sees Astro agree to sell 100% of the equity of Horizon to the shareholders in exchange for certain Astro public securities and a fraction of the ownership of the newly privatized Horizon. Horizon, which describes itself as an "innovative leader in hybrid electric Vertical Take-Off and Landing (VTOL) aerial vehicles, has built a half-scale prototype of its Cavorite X5 eVTOL and expects hover flights to begin at the end of this month. Type certification and initial deliveries are set for 2026.