Pono Capital Three, Inc. Announces the Separate Trading of Its Class A Ordinary Shares and Warrants

Rhea-AI Summary

Pono Capital Three has announced that holders of its units from the initial public offering, totaling 11,500,000 units completed on February 14, 2023, may begin trading Class A ordinary shares and warrants separately starting April 3, 2023. Unseparated units will continue trading under the ticker PTHRU on Nasdaq, while separated shares and warrants will trade under PTHR and PTHRW, respectively.

The offering followed a registration statement filed on November 10, 2022, declared effective on February 9, 2023. This press release does not constitute an offer or solicitation to purchase any securities.

HONOLULU, HAWAII, March 29, 2023 (GLOBE NEWSWIRE) -- Pono Capital Three, Inc. (the "Company") a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, today announced that holders of the units sold in the Company’s initial public offering of 11,500,000 units completed on February 14, 2023 may elect to separately trade the Class A ordinary shares and warrants included in the units commencing on or about April 3, 2023. Holders of units will need to have their broker contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and warrants. Those units not separated will continue to trade on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “PTHRU,” and the Class A ordinary shares and warrants that are separated will trade on Nasdaq under the symbols “PTHR” and “PTHRW,” respectively.

The securities described above were offered by the Company pursuant to a registration statement on Form S-1 (File No. 333-268283) that was originally filed with the Securities and Exchange Commission (“SEC”) on November 10, 2022 and declared effective on February 9, 2023. The offering was made only by means of a prospectus, copies of which may be obtained from: EF Hutton, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhuttongroup.com, or by visiting EDGAR on the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering and search for an initial business combination. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Company Contact:
Davin Kazama
Chief Executive Officer
Pono Capital Three, Inc.
Email: davin@ponocorp.com
Phone: (808) 892-6611

FAQ

When can holders of Pono Capital Three units start trading separately?

Holders can start trading separately on April 3, 2023.

What is the ticker symbol for Pono Capital Three?

The ticker symbol is PTHRU for unseparated units.

What are the ticker symbols for separated Class A ordinary shares and warrants?

The separated Class A ordinary shares will trade under the symbol PTHR, and the warrants will trade under PTHRW.

What was the total number of units offered by Pono Capital Three?

A total of 11,500,000 units were offered.

What was the date of Pono Capital Three's initial public offering?

The initial public offering was completed on February 14, 2023.

Under which registration statement was the offering made?

The offering was made under a registration statement on Form S-1 (File No. 333-268283).