Tech-focused Pono Capital Three priced its initial public offering of 10 million units at $10 each.
Units began listing today on the Nasdaq under the ticker symbol PTHRU. Each consists of one Class A share and a warrant.
Once the securities begin separate trading, shares and warrants are expected to list under the symbols PTHR and PTHRW.
EF Hutton is sole book running manager for the offering. The SPAC has granted the underwriter a 45-day option to purchase up to an additional 1.5 million units at the IPO price to cover over-allotments, if any.
The offering is expected to close Feb. 14.
Potential industries that fit the SPAC’s focus include enterprise security and operations applications, cloud-based content and digital streaming services, drone technology and service, AI companies, consumer healthcare and wellness, biomedical technology, entertainment/gaming companies, distance learning, and e-sports companies.
Mehana Capital is the SPAC’s sponsor. Read more.
