- AERWINS will go public in the U.S. via a merger with special purpose acquisition company Pono Capital ( NASDAQ: PONO ) in a deal that values the Japanese-American air mobility company at $600M.
- Middletown, Del.-based AERWINS Technologies is the parent company of A.L.I. Technologies, a Japanese corporation that produces a luxury hoverbike called Xturismo and runs a drone monitoring and management platform service called C.O.S.M.O.S.
- The deal values AERWINS at $600M, and is expected to result in a combined pro forma equity value of about $750M, PONO said in a statement on Wednesday.
- AERWINS will use the funds from the merger and from achieving a public listing for product manufacturing and to increase production capacity, pursue new research and development and to fund company operations.
- The transaction is expected to close in Q4 this year or Q1 2023, and AERWINS anticipates being listed on the Nasdaq under the symbol "AWIN" and "AWINW".
For further details see:
Air mobility company AERWINS to go public via $600M SPAC deal