Pono Capital Three (NASDAQ: PTHR, PTHRU, PTHRW), a special purpose acquisition company, recently announced its execution of a definitive business combination agreement with Robinson Aircraft (the “target company”), a British Columbia-based company doing business as Horizon Aircraft. Under the agreement, it is intended that the target company will amalgamate with Pono Three Merger Sub Inc., a wholly owned subsidiary of Pono, with the resulting combined company continuing as a wholly owned subsidiary of Pono. “Horizon Aircraft’s hybrid electric eVTOL flies 98% of its mission exactly like a normal aircraft and can recharge itself during flight or after its mission,” said Davin Kazama, CEO of Pono. “In addition to obvious performance and safety benefits, this should also simplify the certification process. Ultimately this aircraft will help to redefine the way people and goods are moved at the regional scale, and we are excited to be part of building a better future with Horizon Aircraft.”
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About Pono Capital Three Inc.
Pono is a special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Pono’s units started trading on the Nasdaq Global Market on Feb. 14, 2023, under the ticker symbol PTHRU. The Class A common stock trades under the symbol PTHR and the warrants under the symbol PTHRW, respectively.
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