Pono Capital Three, Inc.
PTHR
NASDAQ Global Market5.72
USD
+0.22
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Pono Capital Three, Inc.
PTHR
(NASDAQ Global Market)
Recent
price
5.72
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Pono Capital Three, Inc. (NasdaqCM:PTHR) operates as a special purpose acquisition company focused on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses; it targets disruptive technology sectors including enterprise security and operations applications, cloud-based content and digital streaming services, drone technology and services, artificial intelligence companies, consumer healthcare and wellness, biomedical technology, entertainment/gaming companies, distance learning, online retail, and e-sports companies. Incorporated in 2022 and headquartered in Honolulu, Hawaii, the company completed its initial public offering of $115 million in February 2023, with units trading under PTHRU, Class A ordinary shares under PTHR, and warrants under PTHRW. In January 2024, Pono Capital Three completed a business combination with Horizon Aircraft, a developer of hybrid-electric vertical takeoff and landing (eVTOL) aircraft such as the Cavorite X7; the merged entity redomesticated to British Columbia, Canada, changed its name to New Horizon Aircraft Ltd., and continues trading under the PTHR ticker with a focus on regional air mobility markets. Recent developments include securing a $2 million subscription agreement in early 2024 to support the merger, receiving shareholder approval for the Horizon transaction, and ongoing advancements under the new structure such as a October 2025 purchase agreement with Pratt & Whitney Canada for PT6A turboprop engines to power the full-scale Cavorite X7 prototype, completion of fan-in-wing transition flights in May 2025, expansion of its senior technical team by 50% in 2025, and active testing of main wing propulsion units featuring patented HOVR Wing technology, with over 18 months of working capital and non-dilutive government funding as of late 2025. The company maintains operations primarily in North America, with strategic emphasis on advanced air mobility and hybrid propulsion systems for remote and regional applications.
Horizon Aircraft CEO to become chairman after SPAC merger
Horizon Aircraft Announces Board of Directors for Post-Merger Public Company
Horizon Aircraft and Pono Capital Three, Inc. Announce Effectiveness of Form S-4 Registration Statement and Date of Pono's Special Meeting to Approve Business Combination