Pono Capital Three, Inc.
We are a newly organized blank check company focused on Japan, with the intent to search for target companies in the disruptive technology sector. (Incorporated in the Cayman Islands)
From the prospectus:
We believe that there are many target companies that could become attractive public companies and we will seek a target in the disruptive technology sector with a spotlight on companies in Asia, with Japan in particular. Japan is home to some well-known companies, particularly in the area of consumer electronics.1 In recent years, more than half of Japanese companies have net cash versus 10-20% in western developed markets – and the ability of businesses to increase dividends and share buybacks, which could see greater value ascribed to shares.2 Japanese stocks are therefore becoming interesting for investors seeking a secure and growing dividend income, and ideally some growth on top.3 The dividend yield exceeds that of the US market, but on average Japanese businesses are only paying out a third of profits as dividends, so there is significant room for pay-outs to grow.3
We intend to focus our search for a target business addressing a large market opportunity with a company that is driving its growth through technology. Potential industries that fit this focus are enterprise security and operations applications, cloud-based content and digital streaming services, drone technology and service, Artificial Intelligence (“AI”) companies, consumer healthcare and wellness, biomedical technology, entertainment/gaming companies, distance learning, and e-sports companies.
Dustin Shindo, the chairman of our board of directors, is an entrepreneur, executive, technologist and a seasoned advisor with more than 25 years of industry experience. Mr. Shindo currently serves as the managing member of our sponsor, Mehana Capital LLC. Mr. Shindo also currently serves as the CEO of Pono Capital Corp. (NASDAQ: PONO) and the managing member of Pono Capital Corp.’s sponsor, Mehana Equity LLC.
From March 2001 to March 2010, Mr. Shindo served as the CEO of Hoku Scientific, based in Honolulu, Hawaii, where he led the company through an IPO on the NASDAQ Global Market and signed customer contracts totaling USD 2+ billion.
Davin Kazama is our CEO and a director. Mr. Kazama is an entrepreneur with a wealth of experience in the fields of finance, real estate development, financial advising and tax-efficient investment strategies. He is a seasoned professional in raising capital from angel investors and venture capitalists alike. Since 2012, Mr. Kazama has been the founder and manager of Driven PV LLC, which develops and manages clean energy systems. In this position, he educates and consults parties on clean energy products and benefits of such products, including tax incentives and business structuring.
**Note: Our sponsor, Mehana Capital LLC, has agreed to purchase an aggregate of 571,375 placement units (or 634,375 placement units if the over-allotment option is exercised in full) at a price of $10.00 per unit, for an aggregate purchase price of $5,713,750 ($6,343,750 if the over-allotment option is exercised in full). Each placement unit will be identical to the units sold in this offering, except as described in this prospectus. The placement units will be sold in a private placement that will close simultaneously with the closing of this offering.
(Note: Pono Capital Three, Inc. priced its SPAC IPO on Feb. 9, 2023, in sync with the terms in its prospectus – 10.0 million units at $10.00 each – to raise $100 million. Pono Capital Three is the third SPAC IPO priced so far in 2023.)
|Address||643 Ilalo Street, #102 Honolulu, Hawaii 96813|
|Phone Number||(808) 892-6611|
|View Prospectus:||Pono Capital Three, Inc.|
|Revenues||$0 mil (last 12 months)|
|Net Income||$0 mil (last 12 months)|
|Price range||$10.00 - $10.00|
|Est. $ Volume||$100.0 mil|
|Manager / Joint Managers||EF Hutton|
|Expected To Trade:||2/10/2023|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|