Pono Capital (NASDAQ:PONO) shareholders have approved the SPAC's planned merger with Japanese air mobility technology developer Aerwins (AWIN).
Pono 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. Shares of the combined company are expected to trade on Nasdaq under the symbol AWIN.
According to a filing, Pono shareholders voted for the deal on Jan. 27.
Based in Tokyo, Aerwins is a developer of air mobility technology. The company's lead products are a luxury hoverbike called Xturismo and a flight operation management system called COSMOS.
Aerwins in the latest air mobility company to go public, joining Joby (JOBY), Eve (EVEX), Vertical Aerospace (EVTL), Blade Air Mobility (BLDE), Archer Aviation (ACHR) and Lilium (LILM). EVTOL developer Xeriant (OTCQB:XERI) filed earlier this month to uplist its shares to Nasdaq and raise around $10M, while Stellantis announced it was expanding its partnership for eVTOL development with Archer.
Pono had been slated to merge with cannabinoid-based drug developer Benuvia. The deal was terminated in August.