Pono Capital Four, Inc., a special purpose acquisition company (SPAC) based in the Cayman Islands, has successfully completed its initial public offering (IPO), raising $120 million. The IPO, which was declared effective by the U.S. Securities and Exchange Commission (SEC) on March 12, 2026, involved the sale of 12 million units at an offering price of $10.00 per unit. Each unit consists of one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share upon the closing of the company’s initial business combination. The units are expected to begin trading on the Nasdaq Stock Market under the ticker symbol 'PONOU' starting March 13, 2026. Following the separation of the units, the Class A ordinary shares and rights will trade under the symbols 'PONO' and 'PONOR', respectively. The company has granted the underwriter, D. Boral Capital LLC, a 45-day option to purchase up to an additional 1.8 million units to cover over-allotments. The net proceeds from the IPO will be used to pursue and consummate a business combination, primarily focusing on target businesses in the disruptive technology sector. Pono Capital Four's management team, led by CEO Dustin Shindo, is optimistic about identifying suitable acquisition targets. The successful completion of this IPO marks a significant milestone for the company, positioning it well for future growth and investment opportunities.

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