CAGR - Horizon aircraft signs agreement to go public via business combination with Pono
2023-08-15 17:46:37 ET
- Pono Capital Three Inc. ( NASDAQ: PTHR ), a special purpose acquisition company, on Tuesday has announced the execution of a business combination agreement with Robinson Aircraft Ltd , a British Columbia company doing business as Horizon Aircraft.
- As per the agreement, it is intended that the target company will amalgamate with Pono Three Merger Sub Inc, a wholly owned subsidiary of Pono, with the resulting combined company continuing as a wholly owned subsidiary of Pono.
- Stockholders of the target company will receive shares of common stock of Pono.
- The transaction, which is expected to close in the fourth quarter of 2023 or the first quarter of 2024, values Horizon Aircraft at $96 million.
- Source: Press Release
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Horizon aircraft signs agreement to go public via business combination with Pono