Pono Capital Two, Inc. Announces the Separate Trading of Its Class A Common Stock and Warrants

Rhea-AI Summary

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.

Positive

• Trading of Class A common stock and warrants commencing September 26, 2022, provides flexibility to investors.
• Compliance with SEC regulations enhances investor confidence.

Negative

• None.

HONOLULU, HAWAII, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Pono Capital Two, 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 August 9, 2022, may elect to separately trade the shares of Class A common stock and warrants included in the units commencing on or about September 26, 2022. 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 shares of Class A common stock and warrants. Those units not separated will continue to trade on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “PTWOU,” and the Class A common stock and warrants that are separated will trade on Nasdaq under the symbols “PTWO” and “PTWOW,” respectively.

The securities described above were offered by the Company pursuant to a registration statement on Form S-1 (File No. 333-265571) that was originally filed with the Securities and Exchange Commission (“SEC”) on June 14, 2022 and declared effective on August 4, 2022. 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:
Darryl Nakamoto
Chief Executive Officer
Pono Capital Two, Inc.
Email: darryl@ponocorp.com
Phone: (808) 892-6611

FAQ

What does Pono Capital Two's recent announcement mean for investors?

Investors can now separate and trade Class A common stock and warrants from the initial public offering units, providing more flexibility.

When can I start trading Pono Capital Two shares and warrants?

Trading of separated Class A common stock and warrants will begin on September 26, 2022.

What are the ticker symbols for Pono Capital Two's shares and warrants?

Class A common stock will trade under 'PTWO' and warrants under 'PTWOW'.

How many units were offered in Pono Capital Two's initial public offering?

Pono Capital Two offered a total of 11,500,000 units in its initial public offering.

Where can I find more information about Pono Capital Two's securities?

More information can be accessed through EF Hutton or on the SEC's website.