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SPAC Pono Capital Two prices $100 million US IPO, targeting disruptive tech in Japan

August 4, 2022

Pono Capital Two, a blank check company targeting the disruptive technology sector in Japan, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one whole warrant, exercisable at $11.50

Pono Capital Two is led by CEO and Director Darryl Nakamoto, the President and Owner of Viv, LLC and the Controller of bottled water brand Hawaiian Springs, and Chairman Dustin Shindo, the CEO of software firm Junify Corporation and former CEO of Pono Health. Shindo also serves as CEO of August 2021 SPAC IPO Pono Capital (PONO; +2% from $10 offer price), which has a pending merger agreement with cannabinoid developer Benuvia.

The SPAC seeks to focus on disruptive technology in Japan, believing that the county's technology and consumer electronics companies make for attractive targets, citing their ability to grow dividends.

Pono Capital Two plans to list on the Nasdaq under the symbol PTWOU. EF Hutton acted as sole bookrunner on the deal.