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SBC Medical Group Holdings and Pono Capital Two have completed their business combination, with SBC Medical set to begin trading on Nasdaq on September 18, 2024 under the ticker symbol 'SBC'. The company is a global provider of management services and products to cosmetic treatment centers, primarily in Japan. SBC Medical currently supports 164 franchisee treatment centers in Japan and has a presence in Vietnam and California.
The business combination aims to provide SBC Medical with improved access to capital, accelerate business alliances, and facilitate expansion in the United States and Southeast Asia. The company plans to pursue strategic options including business alliances with leading clinics and hospital groups, expand its franchise network, and strengthen its position in regenerative medicine and anti-aging services.
Pono Capital Two, Inc. (NASDAQ: PTWO, PTWOW, PTWOU) has announced a definitive Merger Agreement with SBC Medical Group Holdings Incorporated. The merger values SBC at $1.2 billion, leading to a pro forma equity value of approximately $1.36 billion. SBC's stockholders will receive shares of Pono's Class A Common Stock. The transaction aims to enhance SBC's global expansion in medical services, particularly in cosmetic procedures. Following the merger, SBC will be renamed to SBC Medical Operations, Inc., and Pono will adopt the name SBC Medical Group Holdings. The expected closing is in Q4 2023 or Q1 2024.
Pono Capital Two, Inc. announced that holders of its initial public offering units (11,500,000 units) can trade Class A common stock and warrants separately starting September 26, 2022. Units can be separated through Continental Stock Transfer & Trust Company. Unseparated units will continue trading on Nasdaq under the symbol 'PTWOU', whereas separated shares will trade as 'PTWO' for common stock and 'PTWOW' for warrants. The offering complies with SEC regulations, and the prospectus can be accessed through EF Hutton or SEC's website.
Pono Capital Two, Inc. announced the closing of its initial public offering of 10,000,000 units at $10.00 each, with 1,500,000 units issued due to underwriters' over-allotment option. The units, which include one share of Class A common stock and one redeemable warrant, began trading on Nasdaq under the symbol PTWOU on August 5, 2022. The company, a blank check organization, aims to merge or acquire companies in technology-driven markets. The leadership team includes Darryl Nakamoto as CEO.
Pono Capital Two, Inc. priced its initial public offering of 10,000,000 units at $10.00 each, set to trade on the Nasdaq under the ticker symbol PTWOU starting August 5, 2022. Each unit includes one share of Class A common stock and one redeemable warrant, allowing purchase of additional shares at $11.50. The offering could expand by 1,500,000 units, closing on August 9, 2022. The company aims to merge with a technology-driven business in various sectors, including AI and biomedical technology.
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