CannabisNewsBreaks – Pono Capital Corp (NASDAQ: PONOU), Benuvia Inc. Enter Definitive Business Combination Agreement

March 28, 2022 12:54:43

Pono (NASDAQ: PONOU), a publicly traded special purpose acquisition company, and Benuvia, a leading drug developer and manufacturer of active pharmaceutical ingredients focused on cannabinoids, with a growing portfolio of drug products and intellectual property, announced entry into a definitive business combination agreement that will result, subject to the satisfaction or waiver of certain closing conditions, in Benuvia becoming a public company. According to the announcement, Benuvia will apply to be listed on the Nasdaq. “Benuvia has established a strong position in the pharmaceutical cannabinoid market with its intellectual property and manufacturing assets,” said Dustin Shindo, chief executive officer of Pono. “As we were evaluating potential partners, we sought a company that is well-positioned for high growth, that has proprietary technology or competitive advantage, and with public company potential. With the Benuvia team, we believe that we have found an excellent merger partner to help drive long-term value for our stockholders. We are excited to partner with Benuvia on this exciting journey as they become a publicly traded company.”

To view the full press release, visit https://cnw.fm/PAblN

About Pono Capital Corp

Pono Capital Corp is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. In August 2021, Pono Capital Corp consummated a $115 million initial public offering (the “IPO”) of 1.15 million units (reflecting the underwriters’ exercise of their over-allotment option in full), each unit consisting of one of the company’s Class A ordinary shares and three-quarters of one warrant, each whole warrant enabling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Pono Capital Corp’s securities are quoted on the Nasdaq under the ticker symbols PONOU, PONO and PONOW.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.