Pono Capital Four, a blank check company targeting disruptive technology, raised $120 million by offering 12 million units at $10. The SPAC had originally filed to raise $150 million by offering 15 million units. Each unit still consists of one share of common stock and one right to receive one-fifth of one ordinary share upon the consummation of an initial business combination.
Pono Capital Four is led by Chairman and CEO Dustin Shindo, who currently serves as the managing member of Mehana, and former CEO of software firm Junify. He previously served as the CEO of Pono Capital Three, which merged with Horizon Aircraft (HOVR; -81%) in January 2024; Pono Capital Two, which merged with SBC Medical Group Holdings (SBC; -65%) in September 2024; and Pono Capital, which merged with AERWINS Technologies (OTC: AWIN; -100%) in February 2023. He is joined by CFO Gary Miyashiro, who currently serves as the President of MC Group Hawaii since 2011. He previously served as the CFO of Pono Capital Three. Pono Capital Four intends to target disruptive technology businesses.
Pono Capital Four plans to list on the Nasdaq under the symbol PONOU. D. Boral Capital acted as sole bookrunner on the deal.
