Aerwins to go public via Pono Capital SPAC
Pono Capital shareholders have approved a planned merger with Japanese air mobility technology developer Aerwins.
The SPAC and Aerwins agreed to merge in September through a deal that valued Aerwins at $600m and estimated the equity value of the combined company at $750m. According to the filing, shareholders voted for the deal on January 27. Shares of the combined firm are expected to trade on Nasdaq under the symbol AWIN.
Based in Tokyo, Aerwins is a developer of air mobility technology. The OEM’s products include a hoverbike, Xturismo, and a flight operation management system called COSMOS.
Aerwins in the latest air mobility company to go public, joining Joby, Eve, Vertical, Blade, Archer Aviation and Lilium.
Elsewhere, eVTOL developer Xeriant filed earlier this month to list its shares o Nasdaq and raise around $10m. Also Stellantis announced it was expanding its existing partnership for eVTOL development with Archer.
A merger was on the cards for Pono with cannabinoid-based drug developer Benuvia, but the deal was terminated in August. This is a company with a focus on highs it would seem.