Harneys advises on successful closing of Pono Capital Three, Inc. US$115 million IPO

Harneys is pleased to announce the closing of the initial public offering (IPO) of Pono Capital Three, Inc. for US$115 million dollars. The IPO was fully subscribed and the over-allotment option was exercised in full.

Pono Capital Three Inc. is a special purpose acquisition vehicle (SPAC) incorporated as a Cayman Islands exempted company. The company plans to focus on the consumer goods sector, targeting emerging growth companies in Asia and the broader global consumer industry. This initial public offering proceeds will go towards building out its operations and aiding in its proposed acquisitions.

The Harneys team was led by Partner George Weston with support from Associate Melissa Thomas.

George commented: "The successful completion of the initial public offering for Pono Capital Three, Inc., demonstrates our commitment to the SPAC product, and shows that even in an evolving market, new SPACs are still coming to market. We are proud to have been part of this transaction and look forward to continuing our work with Pono Capital Three, Inc. in the future."

The Corporate team at Harneys excels at complex cross-border transactions involving BVI, Cayman Islands, Luxembourg and Cyprus vehicles. The firm’s significant track record includes complex mega-deals, high value private equity transactions, landmark IPOs and the full spectrum of public and private M&A and joint ventures. Our experienced SPAC practice group provides with Cayman and BVI incorporated vehicles with the full spectrum of legal advice and fiduciary services from incorporation, through to listing, business combination and beyond.