Pono Capital Three in an 8-K filing said it expects to close the merger with New Horizon Aircraft tomorrow. Shares and warrants would begin trading Jan. 16 on the Nasdaq under ticker symbols HOVR and HOVRW.
Horizon is a hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer.
The SPAC’s shareholders approved the deal last week. Though redemptions hit nearly 99%, Pono and Horizon had waived the equity financing closing condition and the SPAC had a $2 million PIPE to support the deal. Read more.
