Pono Capital Three completes $115M IPO and $5.65M private placement, deposits $117.9M in trust

New Horizon Aircraft Ltd.

IPO of 11.5M units at $10.00/unit, including full over-allotment, gross proceeds $115M.
Private placement of 565,375 units at $10.00/unit, gross proceeds $5.65M.
Total trust deposit $117.875M ($10.25 per unit) from IPO and private placement proceeds.
Audited balance sheet shows $119M total assets, $2.68M shareholders' deficit.
Going concern: must complete business combination by Feb 14, 2024 or liquidate.

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