Horizon Aircraft has successfully concluded its business combination with Pono Capital Three, Inc., marking a significant milestone as it transitions into a publicly traded company. Following this strategic move, Horizon Aircraft’s common stock is set to be listed on the Nasdaq stock exchange under the ticker symbol « HOVR. »
This development not only underscores Horizon Aircraft’s commitment to growth and innovation in the aviation industry but also provides investors and stakeholders with an exciting opportunity to engage with the company on the public market. The Nasdaq listing is poised to enhance Horizon Aircraft’s visibility and accessibility, allowing a broader audience to participate in the company’s journey as it continues to shape the future of air transportation.
Robinson Aircraft and Pono Capital Three Complete Business Combination, Trading on Nasdaq as ‘HOVR’
Robinson Aircraft Ltd., known as Horizon Aircraft, a pioneer in hybrid electric Vertical TakeOff and Landing (eVTOL) aircraft development, and Pono Capital Three, Inc. (Pono), a special purpose acquisition company, jointly announced the successful completion of their previously disclosed business combination. Effective from Tuesday, January 16, 2024, the merged entity will operate under the name New Horizon Aircraft, Ltd. (« Horizon Aircraft »).
The common shares and warrants of the company are slated to be listed on the Nasdaq Stock Exchange, with the ticker symbols « HOVR » and « HOVRW, » respectively. Brandon Robinson, the Founder, Chief Executive Officer, and Chairman of the Board of Horizon Aircraft, along with the existing management team comprising Jason O’Neill, Chief Operating Officer, Brian Robinson, Chief Engineer, and Brian Merker, Chief Financial Officer, will continue to guide the strategic direction of Horizon Aircraft.
Brandon Robinson, Chief Executive Officer of Horizon Aircraft, commented, “I am proud and honored by Horizon Aircraft’s achievement of this significant milestone as we embark on our journey as a publicly traded company. 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. We are thankful for the Pono team’s continued collaboration, support, and conviction throughout the transaction process.”
Davin Kazama, CEO of Pono, added, “The Pono team is excited to have successfully completed this business combination with Horizon Aircraft. 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 as they continue to develop a differentiated aircraft that will become dominant in the advanced air mobility space.”