Horizon Aircraft goes public via SPAC transaction

2 minute read
12 January 2024

On January 12, 2024, Robinson Aircraft Ltd., a Lindsay, Ontario-based company doing business as Horizon Aircraft ("Horizon Aircraft") and Pono Capital Three, Inc., a special purpose acquisition company, announced the completion of their previously announced business combination. Beginning January 16, 2024, the combined company will operate as New Horizon Aircraft, Ltd. ("Horizon Aircraft") and the common shares and warrants will trade on the Nasdaq Stock Exchange under the ticker symbols "HOVR" and "HOVRW," respectively.

Horizon Aircraft is an advanced aerospace engineering company that is developing one of the world's first hybrid eVTOL that will be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. 
Gowling WLG was Canadian counsel to Horizon Aircraft in the transaction with a team led by Brett Kagetsu and that included, among others, Tara Amiri, Irena Kramer, Ethan Chang and Raymond Ong (corporate/M&A); Paul Armitage (technology); Brent Kerr and Anita Yuk (tax and corporate); Ian Macdonald (competition); and Todd Bissett (corporate and client relationship).

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