---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-029037"
form_type: "8-K"
ticker: "HOVR"
cik: "0001930021"
company_name: "New Horizon Aircraft Ltd."
filed_at: "2023-08-15T23:59:59+00:00"
generated_at: "2026-06-11T09:42:59.612126+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-029037
- form_type: 8-K
- ticker: HOVR
- cik: 0001930021
- company_name: New Horizon Aircraft Ltd.
- filed_at: 2023-08-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1930021/000149315223029037/0001493152-23-029037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1930021/000149315223029037/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-029037
- JSON: https://secwatch.observer/filing/0001493152-23-029037.json
- Plain text: https://secwatch.observer/filing/0001493152-23-029037.txt

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