SPAC shareholders Pono Capital agree to merge with aviation mobile developer Aerwins
The capital city of Pono (NASDAQ:PONO) shareholders approved SPAC’s plan to merge with Japanese avionics technology developer Aerwins (AWIN).
Pono and Aerwins agree to merge in September passed a deal valuing Aerwins at $600 million and an equity estimate The combined value of the company stands at $750 million. Shares of the combined company are expected to trade on Nasdaq under the symbol AWIN.
According to the to a profile, Pono shareholders voted on the deal on January 27.
Based in Tokyo, Aerwins is a developer of aerial mobility technology. The company’s main products are a luxury hoverbike called Xturismo and a flight management system called COSMOS.
Aerwins in the latest air freight company to go public, joins Joby (JOB), Night (EVEX), Vertical Aerospace (EVTL), Blade Air’s mobility (BLDE), Archer Aviation (ACHR) and Lilium (LILM). EVTOL Xeriant Developer (OTCQB: XERI) filed earlier this month to listing its shares on Nasdaq and raised about $10 million, while Stellantis announced it is expanding its partnership to develop eVTOL with Archer.
Pono used to planned merger with cannabinoid-based drug developer Benuvia. the agreement is ends in August.