Pono Capital Three Completes Merger, Renamed New Horizon Aircraft
Ticker: HOVRW · Form: 8-K · Filed: Jan 12, 2024 · CIK: 1930021
| Field | Detail |
|---|---|
| Company | Pono Capital Three, INC. (HOVRW) |
| Form Type | 8-K |
| Filed Date | Jan 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $11.50 |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: name-change, spac-merger, corporate-action
TL;DR
**Pono Capital Three officially merged and is now New Horizon Aircraft, signaling a major business shift.**
AI Summary
Pono Capital Three, Inc. (PTHR) officially changed its name to NEW HORIZON AIRCRAFT LTD. on January 12, 2024, following the completion of its business combination. The company also updated its principal executive offices to 3187 Highway 35, Lindsay, Ontario, K9V 4R1, and its telephone number to (613) 866-1935. This matters to investors because it signifies the successful completion of the SPAC merger, transforming PTHR from a shell company into an operating entity focused on aircraft manufacturing, which could lead to new growth opportunities or operational risks.
Why It Matters
This filing confirms the successful completion of the SPAC merger, transitioning the company from a blank-check firm to an operational aircraft manufacturer, which is a significant milestone for its future business prospects.
Risk Assessment
Risk Level: medium — While the merger completion is a positive step, the transition to an operating company in the aircraft manufacturing sector introduces new operational and market risks.
Analyst Insight
A smart investor would monitor for the new ticker symbol and subsequent filings from NEW HORIZON AIRCRAFT LTD. to assess the operational performance and strategic direction of the newly combined entity in the aircraft manufacturing sector.
Key Players & Entities
- Pono Capital Three, Inc. (company) — former name of the registrant
- NEW HORIZON AIRCRAFT LTD. (company) — new name of the registrant
- January 12, 2024 (date) — date of earliest event reported and name change
- 3187 Highway 35, Lindsay, Ontario, K9V 4R1 (address) — new principal executive offices
- (613) 866-1935 (phone_number) — new registrant's telephone number
Forward-Looking Statements
- The company's stock ticker will change to reflect its new name, NEW HORIZON AIRCRAFT LTD. (NEW HORIZON AIRCRAFT LTD.) — high confidence, target: Q1 2024
- The company will begin to release financial results and operational updates specific to its aircraft manufacturing business. (NEW HORIZON AIRCRAFT LTD.) — medium confidence, target: Q2 2024
FAQ
What was the former name of the registrant before this 8-K filing?
The former name of the registrant was Pono Capital Three, Inc., as stated in the filing under 'Former name or former address, if changed since last report'.
What is the new name of the company as reported in this 8-K filing?
The new name of the company is NEW HORIZON AIRCRAFT LTD., as indicated by the 'Exact name of registrant as specified in its charter'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 12, 2024, as specified by 'Date of Report (Date of earliest event reported): January 12, 2024'.
What is the new business address of NEW HORIZON AIRCRAFT LTD.?
The new business address of NEW HORIZON AIRCRAFT LTD. is 3187 Highway 35, Lindsay, Ontario, K9V 4R1, as listed under 'Address of principal executive offices, including zip code'.
What is the new telephone number for the registrant?
The new telephone number for the registrant, NEW HORIZON AIRCRAFT LTD., is (613) 866-1935, as provided under 'Registrant’s telephone number, including area code'.
Filing Stats: 602 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-01-12 12:38:55
Key Financial Figures
- $11.50 — Ordinary Share at an exercise price of $11.50 per share HOVRW The Nasdaq Stock Ma
Filing Documents
- ea191565-8k_newhorizon.htm (8-K) — 32KB
- ea191565ex99-1_newhorizon.htm (EX-99.1) — 14KB
- ex99-1_001.jpg (GRAPHIC) — 4KB
- 0001213900-24-003211.txt ( ) — 290KB
- pthr-20240112.xsd (EX-101.SCH) — 4KB
- pthr-20240112_def.xml (EX-101.DEF) — 28KB
- pthr-20240112_lab.xml (EX-101.LAB) — 38KB
- pthr-20240112_pre.xml (EX-101.PRE) — 26KB
- ea191565-8k_newhorizon_htm.xml (XML) — 7KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On January 12, 2024, New Horizon Aircraft Ltd., f/k/a Pono Capital Three, Inc. (the "Company") issued a press release announcing that on January 12, 2024, it closed its previously announced business combination, a copy of which is attached hereto as Exhibit 99.1. The Company expects that its Class A ordinary shares and public warrants will begin to trade on The Nasdaq Capital Market under the symbols "HOVR" and "HOVRW", respectively, on or about January 16, 2024. The information in this Item 7.01 and in Exhibit 99.1 attached hereto is furnished pursuant to the rules and regulations of the SEC and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01 Financial
Item 9.01 Financial (d) Exhibits The following exhibits are being filed herewith: Exhibit No. Description 99.1 Press Release, dated January 12, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NEW HORIZON AIRCRAFT LTD. Date: January 12, 2024 By: /s/ E. Brandon Robinson Name: E. Brandon Robinson Title: Chief Executive Officer 2