Pono Capital Four, Inc. Announces Closing of $120,000,000 Initial Public Offering
Rhea-AI Summary
Pono Capital Four (Nasdaq: PONO) closed its initial public offering on March 16, 2026, selling 12,000,000 units at $10.00 per unit for aggregate gross proceeds of $120,000,000. Each unit includes one Class A ordinary share and one Share Right equal to one-fifth of a Class A share.
The units trade on Nasdaq under PONOU; once separated, the Class A shares and Share Rights are expected to trade as PONO and PONOR. The company intends to use net proceeds and a simultaneous private placement to pursue a business combination.
Positive
- Gross proceeds of $120,000,000
- Offered 12,000,000 units at $10.00 per unit
- Nasdaq listing with tickers PONOU, expected PONO and PONOR
Negative
- Proceeds earmarked for a business combination, not operating cash flow
AI-generated analysis. How Rhea-AI works. Not financial advice.
GRAND CAYMAN, Cayman Islands, March 16, 2026 (GLOBE NEWSWIRE) -- Pono Capital Four, Inc. (Nasdaq: PONO) (the “Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, today announced the closing of its initial public offering of 12,000,000 units, at an offering price of
The Company intends to use the net proceeds from the offering and the simultaneous private placement of units to pursue and consummate a business combination.
D. Boral Capital LLC is acting as sole book-running manager for the offering. Loeb & Loeb LLP served as legal counsel to the Company. Winston & Strawn LLP served as legal counsel to the underwriters.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from: D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at dbccapitalmarkets@dboralcapital.com, or by telephone at +1 (212) 970-5150, or by accessing the website of the Securities and Exchange Commission (“SEC”) at www.sec.gov.
A registration statement relating to the securities has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Pono Capital Four, Inc.
Pono Capital Four, Inc. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination in any sector, the Company will primarily focus on target businesses in the disruptive technology sector. The Company’s management team is led by Dustin Shindo, its Chief Executive Officer and Chairman of the Board of Directors.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds thereof and the Company’s search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts:
Dustin Shindo
Chief Executive Officer
dustin@mehana.com
