Pono Capital Two (NASDAQ: PTWOU) has announced the closing of its initial public offering of 10,000,000 units, each at a price of $10.00, including 1,500,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option. The units are listed on the Nasdaq Global Market and began trading under the ticker symbol PTWOU on Aug. 5, 2022. Each unit consists of one share of Class A common stock and one redeemable warrant. Each warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the Nasdaq under the symbols PTWO and PTWOW, respectively. EF Hutton, division of Benchmark Investments LLC, acted as the sole book running manager for the offering. Nelson Mullins Riley & Scarborough LLP served as legal counsel to the company, while Kirkland & Ellis LLP served as counsel to EF Hutton.
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About Pono Capital Two Inc.
Pono Capital Two is a newly incorporated blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. It intends to focus its search for a target business addressing a large market opportunity with a company that is driving its growth through technology. Potential industries that fit this focus are enterprise security and operations applications, cloud-based content and digital streaming services, drone technology and service, artificial intelligence (“AI”), consumer health care and wellness, biomedical technology, entertainment/gaming, distance learning, and e-sports companies. Pono Capital Two is led by CEO Darryl Nakamoto, CFO Allison Van Orman and Chairman of the Board Dustin Shindo.
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