WASHINGTON, D.C. – Nelson Mullins represented Pono Capital Corp. (“Pono”) in its special purpose acquisition company ("SPAC") deal with AERWINS Technologies Inc. (“AERWINS”). The transaction has a total value at $750 million and is expected to be completed in the fourth quarter of 2022 or the first quarter of 2023. The combined company is expected to trade on the NASDAQ under the ticker symbols “AWIN” and “AWINW.”

The Nelson Mullins team included partners Andy Tucker, Gavin Beske, and Angela-Hart Edwards, and associate Tiffany Weatherholtz, with support from partners Wells Hall, Anthony Laurentano, Matt Zischke, Tim Wagner, Nichole Hayden, and Henry Burwell, and associate Katherine Coker.

Pono is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. It searches 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 companies, consumer healthcare and wellness, biomedical technology, entertainment/gaming companies, distance learning, and e-sports companies.

AERWINS is focused on the development of technologies to enable air mobility. It has developed and released the air mobility platform C.O.S.M.O.S. and the XTURISMO Limited Edition Hoverbike. AERWINS plans to continue to innovate, develop, and commercialize products that are necessary for the realization of a society empowered by air mobility.

Tucker is a corporate and securities advisor to growing companies, particularly in the technology and government contracting sectors. He assists his clients with a broad variety of transactional support, including venture capital and private equity transactions, joint ventures, mergers and acquisitions, and public and private securities offerings.

Beske’s practice focuses on advising investment banks, insured depository institutions and other regulated entities on securities and regulatory compliance issues. He also advises public companies on Exchange Act compliance, NYSE and Nasdaq compliance, corporate governance, and Sarbanes-Oxley Act matters.

Hart-Edwards is a corporate labor and employment attorney who focuses her practice in all aspects of employment law with an emphasis on representation of employers in individual and class and collective litigation matters in state and federal courts nationwide. She has extensive experience in the drafting and enforcement of non-compete, confidentiality, and other employment-related agreements throughout the United States.

View the press release.

Established in 1897, Nelson Mullins is an Am Law 100 firm of more than 930 attorneys and government relations professionals with offices in 15 states and Washington, D.C. For more information on the firm, go to www.nelsonmullins.com.