M&A
confidence medium
sentiment neutral
materiality 0.30
Pono Capital Three amends 8-K to add EF Hutton as Capital Markets Advisor for Horizon merger
New Horizon Aircraft Ltd.
- Amendment corrects Aug 15 press release to include EF Hutton, a division of Benchmark Investments, as Capital Markets Advisor.
- Business Combination Agreement with Horizon Aircraft values the target at $96M enterprise value.
- Pono to redomesticate to British Columbia; Merger Sub will amalgamate with Horizon at closing.
- Horizon stockholders subject to 6-month lock-up, early release if PTHR price >= $12 for 20 of 30 days after 150 days.
- Closing conditions include minimum $5M net tangible assets and Nasdaq listing of shares issued as consideration.