Pono Capital Corp. (NASDAQ:PONO) disclosed in an 8-K filing this morning that its shareholders approved its combination with air mobility company AERWINS at a special meeting held on Friday, January 27.
Holders of 12,412,861 common shares were present at the meeting and the deal was approved with 11,218,712 shares in favor of the transaction.
The filing did not include redemption figures or a closing timeline, but once closed, the combined company is expected to list on the NASDAQ Capital Market under the symbols “AWIN” and “AWINW”.
Pono announced its $750 million deal with AERWINS in September 2022. Tokyo, Japan-based AERWINS develops technology that enables air mobility such as a luxury hoverbike and drone-based solution services.
The SPAC originally intended to combine with cannabinoid drug developer Benuvia in a deal valued at $440 million. Pono announced the combination in March 2022, but it was terminated several months later in August 2022 without revealing much detail. At that time, the company faced a completion deadline of August 13, 2022, but was able to extend its timeline twice for a final deadline of February 11, 2023.
Pono’s CEO and Founder Dustin Shindo is also Chairman of Pono Capital Two (NASDAQ:PTWOU) and Pono Capital Three (NASDAQ:PTHR).
At the SPAC of Dawn During a week in which rare earth mining and space de-SPACs have seen major gains, another blast from the past is making serious waves in the market. EV battery developer QuantumScape (NYSE:QS) rose to a 52-week high of $13.79 yesterday and is cruising even higher in the pre-market. The company...
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...