Robinson Aircraft Ltd., a hybrid electric eVTOL aircraft developer (“Horizon Aircraft”), today announced a strategic investment in the form of a convertible note purchased by certain accounts of Canso Investment Counsel Ltd. (“Canso”) and affiliated companies for an aggregate USD6.7 million CAD (cash available for disposal).
“Canso and Horizon Aircraft share a common bond at the highest level” according to the press release. “Brandon Robinson, Chief Executive Officer and Co-Founder of Horizon Aircraft and several of Canso’s senior staff come from Canadian military and aviation backgrounds. They leverage this shared experience when pursuing opportunity and overcoming operational challenges. Horizon Aircraft believes that Canso’s support with this financing will strengthen Horizon’s position as a leader in the eVTOL market and accelerate our developmental timeline.
“As previously announced on August 15, 2023, Horizon Aircraft and Pono Capital Three, Inc. (NASDAQ: PTHR, PTHRU and PTHRW) have executed a definitive Business Combination Agreement (the “Business Combination Agreement”). Pursuant to the Business Combination Agreement, it is intended that Horizon 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 and will trade under NASDAQ: HOVR.”
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(Image: Horizon Aircraft)
