• 20 Feb 2024 09:03 AM
• 0

Horizon Secures Order, Goes Public

Horizon Aircraft announced on Jan. 16 that JetSetGo, a charter aviation services firm in India, intends to purchase 50 Cavorite X7, with a possible additional order of 50 aircraft. The letter of intent sets the unit price of the aircraft at $5M apiece, potentially yielding $500M for the Lindsay, Ontario, Canada-based company should it fulfill orders for all 100 aircraft. Horizon Aircraft revealed its hybrid-electric Cavorite X7 in September (see “Electic VTOL News,” Vertiflite, Nov/Dec 2023).

As of Jan. 16, Robinson Aircraft Ltd., the company doing business as Horizon Aircraft, began trading as a public company under the symbols HOVR and HOVRW. The company confirmed last year that it would go public using a special purpose acquisition company (SPAC), Pono Capital Three Inc. Horizon Aircraft rang the Nasdaq Closing Bell on Jan. 25 to mark its public listing.