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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.
