Pono Capital Three signs definitive merger with Horizon Aircraft at $96M enterprise value

New Horizon Aircraft Ltd.

Horizon shareholders receive ~$96M less closing net indebtedness in Pono Class A shares.
Pono to redomesticate to British Columbia; Merger Sub amalgamates with Horizon.
Closing conditions include minimum $5M net tangible assets, shareholder approvals, Nasdaq listing.
Horizon stockholders subject to 6-month lock-up, with early release if PTHR hits $12 for 20 days in 30.
Sponsor (Mehana Capital) and certain Horizon stockholders enter support/voting agreements in favor of deal.

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