PONO Capital regiustered with the SEC to offer 10 million units at $10 each. A unit consists of one share of Class A common stock and one-half of one redeemable warrant, with whol warrants exercisable for a share at $11.50.
Kingswood Capital Markets is sole book-running manager for the deal. The underwriters have a 45-day option to purchase up to an additional 1.5 million units to cover any over-allotments.
PONO will seek to acquire a tech business involving consumer healthcare and wellness, biomedical technology, security and operations applications, cloud-based content and digital streaming services, drone technology and service, AI companies, entertainment/gaming companies, distance learning, online retail or e-sports companies.
The SPAC is led by CEO Dustin Shindo, who also serves as CEO of software company Junify, which operates in California and Japan.
The SPAC intends to apply for a listing on the Nasdaq under PONOU. Read more.
