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The latest update is out from Pono Capital Two, Inc. Class A (PTWO).
Pono Capital Two, Inc. secured a deal with an investor to buy 1.5 to 1.7 million shares of its Class A common stock to support its upcoming business combination with SBC Medical Group Holdings Incorporated. This strategic move aims to satisfy Nasdaq’s listing requirements and ensure the merger’s completion. The investor agreed not to redeem these shares and hold them past the merger’s closure. Despite the large-scale purchase, Pono believes this will not influence the stockholders’ approval of the business combination, with the investor having already acquired over 1.5 million shares at an average of $11.04 each by the report’s filing.
Learn more about PTWO stock on TipRanks’ Stock Analysis page.
