On January 12, 2024, Horizon Aircraft, a hybrid electric Vertical TakeOff and Landing (eVTOL) developer, and Pono Capital Three, Inc., a special purpose acquisition company, completed their previously announced business combination. As of January 16, 2024, the combined company, New Horizon Aircraft, Ltd., trades on the Nasdaq Stock Exchange under the symbols "HOVR" and "HOVRW."

Brandon Robinson, Horizon Aircraft's Founder, CEO, and Chairman, along with the current management team, will continue to lead the company. The team includes Jason O’Neill (COO), Brian Robinson (Chief Engineer), and Brian Merker (CFO).

Brandon Robinson expressed pride in Horizon Aircraft's milestone, highlighting the transition to a publicly traded company as a catalyst for growth and development of their hybrid eVTOL, the Cavorite X7. Davin Kazama, CEO of Pono, praised the successful completion of the business combination and expressed confidence in Horizon Aircraft's strategic objectives and value creation in the advanced air mobility sector.