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SPAC · Merger completed

Pono Capital Three, Inc.

Business combination with Robinson Aircraft Ltd.

Pono Capital Three, Inc. is a blank-check company (SPAC) that raised $100M in its initial public offering on Feb 10, 2023, listing on Nasdaq. It completed its business combination with Robinson Aircraft Ltd. on Jan 12, 2024; the combined company is New Horizon Aircraft Ltd. (HOVR). Benchmark led the IPO. Nelson Mullins advised the SPAC and Kirkland & Ellis advised the underwriters on the IPO.

Robinson Aircraft Ltd. is a British Columbia company doing business as Horizon Aircraft. It has signed a business combination agreement with Pono Capital Three, under which it would amalgamate with a Pono subsidiary and continue as a wholly owned subsidiary.

Status
Merger completed
IPO date
Feb 10, 2023
IPO size
$100M
IPO exchange
Nasdaq
Target
Robinson Aircraft Ltd. (d/b/a Horizon Aircraft)
Announced
Aug 17, 2023
Closed
Jan 12, 2024
Combined company
New Horizon Aircraft Ltd. (HOVR)
IPO underwriters
Benchmark
SPAC counsel (IPO)
Nelson Mullins
Underwriters' counsel (IPO)
Kirkland & Ellis

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