Pono Capital Corp Confirms Funding to Extend Period to Consummate Initial Business Combination

Honolulu, Hawaii, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Pono Capital Corp (the “Company”) (Nasdaq: PONO), a special purpose acquisition company, today announced that Mehana Capital LLC, an affiliate of Mehana Equity LLC (the “Sponsor”), and AERWINS Technologies, Inc. (“AERWINS”), have each deposited $575,000 into the Company’s Trust account for its public stockholders, representing an aggregate of $0.10 per public share, allowing the Company to extend the period of time it has to consummate its initial business combination by three months from November 11, 2022 to February 13, 2023 (the “Extension”). The Extension is permitted under the Company’s governing documents.

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