PTHR

New Horizon Aircraft Ltd.

A special purpose acquisition company (SPAC) — a "blank check" firm formed to raise money and merge with a private business to take it public — Pono Capital Three was headquartered in Honolulu and named for the Hawaiian word "pono," meaning righteousness and balance. It focused on finding a target in disruptive technology. In January 2024 it merged with Horizon Aircraft, a Canadian developer of hybrid-electric vertical take-off and landing (eVTOL) aircraft, and the combined company began trading on Nasdaq.