Honolulu, Hawaii, August 10, 2022 (GLOBE NEWSWIRE) — Pono Capital Corp (“company”) (Nasdaq: PONO ), a special purpose buyout company, announced today that Mehana Capital LLC, an affiliate of Mehana Equity LLC (“Sponsor”), has deposited $1,150,000 into the Company’s trust account for its public stockholders, representing $0.10 per public share, allowing the Company to extend the time period it takes to complete its initial business combination with three months from August 13, 2022 to November 11, 2022 (“extension“). Expansion is permitted under the Company’s governing documents.
Warning statement regarding Forward-looking statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and the Company’s preliminary offering prospectus filed with the SEC. Copies of these documents 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 publication, except as required by law.
Pono Capital Corp