IPO and Business Combination - New Horizon Aircraft Ltd. completed its Initial Public Offering (IPO) on February 14, 2023, raising CAD 115 million by offering 11,500,000 units at CAD 10.00 per unit[26] - The company underwent a Business Combination on January 11, 2024, amalgamating with Legacy Horizon, which is expected to enhance operational capabilities and market presence[20] Strategic Initiatives - The 2023 Equity Incentive Plan was established to align employee interests with shareholder value, promoting long-term growth and retention[17] - New Horizon Aircraft Ltd. aims to leverage its recent merger to explore strategic acquisitions that could bolster its competitive position in the market[20] - The management anticipates achieving significant operational synergies post-merger, although specific financial projections were not disclosed[19] Research and Development - The company emphasizes the importance of ongoing research and development to innovate and improve its aircraft technology[20] Governance and Transparency - New Horizon Aircraft Ltd. is committed to maintaining transparency and providing regular updates on its financial performance and strategic initiatives[19] - The company has established a robust governance framework to ensure compliance with regulatory requirements and enhance shareholder confidence[19] Future Outlook - Future earnings guidance will be provided in subsequent reports, reflecting the anticipated impact of the Business Combination and market conditions[19]
Pono Capital Three(PTHR) - 2025 Q4 - Annual Report