Pono Capital Three, Inc. Receives Shareholder Approval of the Business Combination with Horizon Aircraft
HONOLULU and TORONTO, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Robinson Aircraft Ltd., doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, and Pono Capital Three, Inc. (“Pono”) (Nasdaq: PTHR), a publicly-traded special purpose acquisition company, today announced that Pono’s shareholders voted to approve the previously announced business combination between Pono and Horizon Aircraft (the “Business Combination”), at the extraordinary general meeting (the “Special Meeting”) of Pono’s shareholders held on January 4, 2024.
- HONOLULU and TORONTO, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Robinson Aircraft Ltd., doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, and Pono Capital Three, Inc. (“Pono”) (Nasdaq: PTHR), a publicly-traded special purpose acquisition company, today announced that Pono’s shareholders voted to approve the previously announced business combination between Pono and Horizon Aircraft (the “Business Combination”), at the extraordinary general meeting (the “Special Meeting”) of Pono’s shareholders held on January 4, 2024.
- Voters representing over 81.1% of the issued and outstanding ordinary shares of Pono cast votes in favor of the proposal in connection with the business combination at the Special Meeting.
- In connection with the Special Meeting, shareholders holding an aggregate of 11,476,685, or 99%, of Pono Class A ordinary shares (the “Pono Class A Shares”) exercised their right to redeem their Pono Class A Shares.
- Upon closing of the Business Combination, the post-closing company will be renamed “New Horizon Aircraft Ltd.” and will continue to do business as “Horizon Aircraft” with its common stock and warrants trading on The Nasdaq Stock Market, LLC (“Nasdaq”) under the ticker symbols “HOVR” and “HOVRW,” respectively.