Pono Capital Three (NASDAQ: PTHRU) recently announced the closing of its initial public offering of 10,000,000 units at $10.00 per unit, including 1,500,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option. The units commenced trading on the Nasdaq Stock Market LLC on Feb. 10, 2023, under the ticker symbol PTHRU. Each unit consists of one Class A ordinary share and one redeemable warrant, with each warrant entitling the holder to purchase one Class A ordinary share at a price of $11.50. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols PTHR and PTHRW, 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, and Kirkland & Ellis LLP served as counsel to EF Hutton.
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About Pono Capital Three Inc.
Pono Capital Three is a newly incorporated blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The company believes that there are many target companies that could become attractive public companies and will seek a target in the disruptive technology sector with a spotlight on companies in Asia with Japan in particular. The company is led by Davin Kazama, chief executive officer, Gary Miyashiro, chief financial officer, and Dustin Shindo, chairman of the board.
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