Horizon Aircraft Provides Corporate Update - Seite 2

Key Operating Highlights

• Successfully Completed the Business Combination with Pono Capital Three, Inc. (“Pono") and began trading on the Nasdaq as a public company. This structural pivot permits the company to benefit from increased liquidity and capital raising options and has resulted in a powerful partnership with global reach to leverage best-in-class technology, and for future investment;
  
  
• Signed a Letter of Intent with JetSetGo, a regional aviation fleet operator serving the Indian market with multi-purpose mission air transport, for an initial purchase of fifty (50) Cavorite X7 aircraft with an option to purchase an additional fifty (50) aircraft for an aggregate consideration commitment of up to $500 million;
  
  
• Began Execution of the Transition to Forward Flight-Testing Program for the Cavorite X7 large-scale prototype. The Company continued its robust flight-testing program that is now systematically exploring transition to forward flight. This testing is proceeding very well and continues to yield positive results. It is expected that transition flight testing of the large-scale aircraft could achieve measurable results in May of 2024 with several test dates scheduled in the upcoming weeks; and
  
  
• Continued Detailed Design of the Full-Scale eVTOL Prototype. The Company applied results of from its large-scale prototype program including flight tests, wind tunnel tests, and digital twin studies to improve the full-scale aircraft design. The Company is preparing to commence assembly of the full-scale aircraft later in 2024, with testing expected to begin in 2026.
  

Upcoming Investor Conferences

Horizon Aircraft’s Management team will be participating in the following upcoming investor events:

• Sidoti Virtual Micro-Cap Conference
  • Date: Wednesday, May 8^th and Thursday, May 9^th
  • Location: Virtual
    
    
• EF Hutton Annual Investor Conference
  
  • Date: Wednesday, May 15^th
  • Location: The Plaza Hotel, New York, NY
    

About Horizon Aircraft

Horizon Aircraft is an advanced aerospace engineering company that is developing one of the world’s first hybrid eVTOL that is to be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon hopes to successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases. Visit www.horizonaircraft.com for more information.