---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-000818"
form_type: "8-K"
ticker: "HOVR"
cik: "0001930021"
company_name: "New Horizon Aircraft Ltd."
filed_at: "2024-01-03T23:59:59+00:00"
generated_at: "2026-06-07T04:53:38.068801+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Pono Capital Three waives Horizon merger condition, secures $2M subscription for closing

## Summary
- Waived equity financing closing condition in Business Combination Agreement with Horizon Aircraft.
- Subscription Agreement for $2M (200k Class A shares at $10/share) to fund the merger.
- Horizon agreed to transfer 330k Incentive Shares to subscriber, 470k to designees.
- Shares issued unregistered under Section 4(a)(2)/Reg D; closing concurrent with merger.
- Subscription closing contingent on substantially concurrent consummation of the business combination.

## SEC filing metadata
- accession: 0001213900-24-000818
- form_type: 8-K
- ticker: HOVR
- cik: 0001930021
- company_name: New Horizon Aircraft Ltd.
- filed_at: 2024-01-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1930021/000121390024000818/0001213900-24-000818-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1930021/000121390024000818/ea191050-8k425_pono3.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-000818
- JSON: https://secwatch.observer/filing/0001213900-24-000818.json
- Plain text: https://secwatch.observer/filing/0001213900-24-000818.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.