Pono Capital Three, 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 warrant, exercisable at $11.50.
Pono Capital Three is led by CEO and Director Davin Kazama, the founder and Manager of Driven PV, which develops and maintains clean energy systems, and Chairman Dustin Shindo, the co-founder and former CEO of software firm Junify Corporation and former CEO of Pono Health. Shindo has also been involved with August 2021 IPO Pono Capital, which merged with air mobility developer AERWINS Technologies (AWIN; -77% from $10 offer price) earlier this month, and August 2022 IPO Pono Capital Two (PTWO; +4%), which has a pending merger agreement with Japanese medical services provider SBC Medical Group.
Pono Capital Three plans to target the disruptive technology sector in Asia, particularly Japan. It plans to focus on industries including enterprise security and operations applications, cloud-based content and digital streaming services, and drone technology and service, among others.
Pono Capital Three plans to list on the Nasdaq under the symbol PTHRU. EF Hutton acted as sole bookrunner on the deal.
