AERWINS Technologies Inc., an air mobility platform company, announces signing of a definitive agreement for going public via a business combination with Pono Capital Corp., a NASDAQ listed company, to become a public company.

The transaction values AERWINS at $600 million, which is expected to result in a combined pro forma equity value of approximately $750 million, assuming no redemptions in the business combination.
Achieving a public listing milestone is expected to enable AERWINS to promote the expansion of its air mobility platform business globally, increase production capacity, new product research and development and make AERWINS a recognized leader in air mobility.
The transaction is expected to close in either the fourth quarter of 2022 or the first quarter of 2023, and AERWINS anticipated being listed on the NASDAQ Capital Market under the symbols “AWIN” and “AWINW”
Shuhei Komatsu, of AERWINS, will lead the combined company