SBC Medical Group Holdings Incorporated, a medical services healthcare company, announced signing of a definitive agreement to go public via a business combination with Pono Capital Two, Inc., a Nasdaq listed company.
Honolulu, Hawaii and Tokyo, Japan, Feb. 02, 2023 (GLOBE NEWSWIRE) — Pono Capital Two, Inc. (NASDAQ:PTWO, PTWOW and PTWOU), a special purpose acquisition company (“Pono”), has announced the execution of a definitive Agreement and Plan of Merger (the “Merger Agreement”) with SBC Medical Group Holdings Incorporated, a Delaware corporation (“SBC”). Pursuant to the Merger Agreement, it is intended that SBC will merge with Pono Two Merger Sub, Inc., a wholly owned subsidiary of Pono, with SBC continuing as the surviving corporation as a wholly owned subsidiary of Pono. Stockholders of SBC will receive shares of Class A Common Stock of Pono (the “Merger”). In connection with the Merger, it is expected that SBC will change its name to “SBC Medical Operations, Inc.,” and that Pono will then change its name to “SBC Medical Group Holdings Incorporated”.