Irvine, CA – February 13, 2022 – AERWINS Technologies Inc. (“AERWINS” or the “Company”), the developer and manufacturer of air mobility platform, C.O.S.M.O.S. (Centralized Operating System for Managing Open Sky), and the XTURISMO Limited Edition Hoverbike, announced the closing of it’s ~$600 million completed business combination with PONO Capital Corp and the commencement of trading of its shares on Nasdaq under the symbol “AWIN”. Boustead Securities, LLC (“Boustead”) served as the exclusive financial advisor to the Company.
The Company closed the merger agreement with Pono Capital, Pono Merger Sub, Inc., a wholly owned subsidiary of Pono Capital, and AERWINS, Inc., a Japanese company previously named AERWINS Technologies, Inc. At the closing of the merger, Pono Merger Sub, Inc. merged with and into AERWINS, Inc., with AERWINS, Inc. surviving and continuing as a wholly owned subsidiary of the Company, previously named Pono Capital Corp. and now named AERWINS Technologies Inc.
"This merger is an example of this opportunity and the culmination of the efforts of many people," said Pono Capital Chairman and CEO prior to the closing of the merger, Dustin Shindo. "The listing of AERWINS on Nasdaq through a merger with Pono Capital Corp is a major milestone for AERWINS and for successful and promising Japanese based companies. It has been the belief of the Pono Capital team that a US SPAC, together with the right connections in Japan, could bring new opportunities and unlock value.”
"We would like to express our sincere gratitude to our customers, business partners, shareholders, and all other stakeholders who have supported us since our founding for their support and encouragement,” said AERWINS subsidiary A.L.I. Technologies CEO, Daisuke Katano. “My dream in life is to create a company that will take the world by storm with the power of technology originating in Japan. With this listing in the U.S., I believe that we have finally reached the starting point of our global expansion. Moving forward, we will do our best to live up to expectations.”
About AERWINS Technologies Inc.
Under the mission statement Changing Society from the Top Down, AERWINS Technologies has developed and released an air mobility platform, C.O.S.M.O.S. (Centralized Operating System for Managing Open Sky), and the XTURISMO Limited Edition Hoverbike. AERWINS will continue to innovate, unbound by existing ideas, to develop and deploy systems that are necessary for the realization of an air mobility society. For more information, please visit http://aerwins.us/.
About PONO Capital Corp.
Pono Capital Corp, prior to the closing of the merger, was special purpose acquisition company whose business purpose was to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Upon the closing of the business combination pursuant to the merger agreement, Pono Capital Corp. became AERWINS Technologies Inc.
About Boustead Securities, LLC
Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com