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Business Air News Bulletin
Business Air News Bulletin
The monthly news publication for aviation professionals.
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Horizon Aircraft, Inc.
Aircraft

Horizon Cavorite X7

BAN's World Gazetteer

Canada
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Horizon becomes publicly traded company
It started the process back in August, and now Horizon has merged with a SPAC and its shares are trading on the NYSE. The move provides resources to continue developing and testing its Cavorite X7.
The Cavorite X7 prototype can take off vertically, but once in flight the patented HOVR wing system reverts to the configuration of a conventional aircraft.

Horizon Aircraft has completed its business combination with Pono Capital Three, and the combined company will operate as New Horizon Aircraft with common shares and warrants trading on the Nasdaq Stock Exchange under the ticker symbols HOVR and HOVRW, respectively.

Brandon Robinson, Horizon founder, chief executive officer and chairman of the board, and the current management team including COO Jason O'Neill, chief engineer Brian Robinson and CFO Brian Merker will continue to lead the company.

Robinson says: "I am proud and honoured by Horizon Aircraft's achievement of this significant milestone as we embark on our journey as a publicly traded company. This evolution will serve as a catalyst to accelerate our growth by providing the resources to continue the development and testing of our practical, real world use hybrid eVTOL, the Cavorite X7. We are thankful for the Pono team's continued collaboration, support and conviction throughout the transaction process."

Pono CEO Davin Kazama adds: "The Pono team is excited to have successfully completed this business combination. We are eager to see Brandon and the Horizon Aircraft team successfully execute their long-term operational and strategic objectives, building value for shareholders and stakeholders alike as they continue to develop a differentiated aircraft that will become dominant in the advanced air mobility space."

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