Which sentence is more formal? Is it Kaya hope to invest in Marie's new technology company but she missed the opportunity or is it Kaya hope to invest in Marie's new technology company, but that ship has sailed which one is more formal.

The sentence "Kaya hopes to invest in Marie's new technology company but she missed the opportunity" is more formal compared to "Kaya hopes to invest in Marie's new technology company, but that ship has sailed."