Star Wars-inspired hoverbike maker A.L.I. Technologies filed for bankruptcy due to mounting research and development costs and slow adoption of the next-generation vehicles.
The filing comes less than a year after Japan-based parent Aerwins Technology debuted on the Nasdaq after combining with Pono Capital. Liabilities at the startup were about ¥1.2 billion ($8.3 million) at the end of December 2022, when its annual net loss was around ¥2 billion, or almost three times revenue, Bloomberg reported.
The SPAC transaction valued AERWINS at $600 million, minus any outstanding debt. Read more.
