Horizon Aircraft, an eVTOL aircraft developer, and Pono Capital Three have completed their previously announced business combination. Beginning January 16, 2024, the combined company will operate as New Horizon Aircraft. The common shares and warrants will trade on the Nasdaq Stock Exchange under 'HOVR' and 'HOVRW'.
"I am proud and honoured by Horizon Aircraft’s achievement of this significant milestone as we embark on our journey as a publicly traded company," said Horizon Aircraft CEO Brandon Robinson. "This evolution will serve as a catalyst to accelerate our growth by providing the resources to continue the development and testing of our practical, real world use hybrid eVTOL, the Cavorite X7."
"The Pono team is excited to have successfully completed this business combination with Horizon Aircraft," said Pono CEO Davin Kazama. "We are eager to see Brandon and the Horizon Aircraft team successfully execute their long-term operational and strategic objectives, building value for shareholders and stakeholders alike".