Pono Capital Two priced its initial public offering of 10 million units at $10 each. The units began trading today on the Nasdaq under the ticker symbol PTWOU. Each consists of one share and a warrant.
Once the securities begin separate trading, shares and warrants are expected to list under the symbols PTWO and PTWOW.
EF Hutton is sole book running manager for the offering, which is expected to close Aug. 9.
Pono Capital Two intends to focus its search for a target business “addressing a large market opportunity with a company that is driving its growth through technology,” according to a press release. Potential industries include enterprise security and operations applications, cloud-based content and digital streaming services, drone technology and service, Artificial Intelligence (“AI”) companies, consumer healthcare and wellness, biomedical technology, entertainment/gaming companies, distance learning, and e-sports companies.
Nelson Mullins Riley & Scarborough is serving as legal counsel to the SPAC. Kirkland & Ellis is representing EF Hutton. Read more.
