Pono Capital Four closes $120M IPO and $1.9M private placement on March 16, 2026

Pono Capital Four, Inc.

IPO of 12M units at $10/unit raised $120M gross; each unit has one Class A share and one right.
Private placement of 190,000 units at $10/unit to sponsor and institutional investor raised $1.9M.
Trust account funded with $120M; company has 18 months to complete initial business combination.
Balance sheet as of March 16, 2026: cash $619k, trust $120M, liabilities $2.635M, shareholders' deficit $(2.009M).

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