---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-005675"
form_type: "8-K"
ticker: "HOVR"
cik: "0001930021"
company_name: "New Horizon Aircraft Ltd."
filed_at: "2023-02-21T23:59:59+00:00"
generated_at: "2026-06-19T07:21:12.413557+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-005675
- form_type: 8-K
- ticker: HOVR
- cik: 0001930021
- company_name: New Horizon Aircraft Ltd.
- filed_at: 2023-02-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1930021/000149315223005675/0001493152-23-005675-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1930021/000149315223005675/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-005675
- JSON: https://secwatch.observer/filing/0001493152-23-005675.json
- Plain text: https://secwatch.observer/filing/0001493152-23-005675.txt

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