Robinson Aircraft Ltd., doing business as Horizon Aircraft, a hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, and Pono Capital Three Inc., a special purpose acquisition company, recently announced the completion of a business combination. Beginning Tuesday, Jan. 16, 2024, the combined company began operating as New Horizon Aircraft Ltd. (NASDAQ: HOVR, HOVRW) (“Horizon Aircraft”) and the common shares and warrants commenced trading on the Nasdaq Stock Exchange under the ticker symbols HOVR and HOVRW, respectively. “I am proud and honored by Horizon Aircraft’s achievement of this significant milestone as we embark on our journey as a publicly traded company,” said Brandon Robinson, chief executive officer of Horizon Aircraft. “This evolution will serve as a catalyst to accelerate our growth by providing the resources to continue the development and testing of our practical, real world use hybrid eVTOL, the Cavorite X7. We are thankful for the Pono team’s continued collaboration, support and conviction throughout the transaction process.”

To view the full press release, visit https://ibn.fm/MDhIL

About New Horizon Aircraft Ltd. (“Horizon Aircraft”)

Horizon Aircraft is an advanced aerospace engineering company that is developing one of the world’s first hybrid eVTOL that is to be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range and operational utility. Horizon’s unique designs put the mission first and prioritize safety, performance and utility. Horizon hopes to successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases. Visit www.horizonaircraft.com for more information.

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