{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-085946","form_type":"8-K","ticker":"PONO","cik":"0002108164","company_name":"Pono Capital Four, Inc.","filed_at":"2026-08-06T13:24:21+00:00","discovered_at":"2026-08-06T13:25:01.438108+00:00","generated_at":"2026-08-06T13:25:05.759547+00:00","sec_items":["7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Pono Capital Four to merge with Blackstar Orbital at $380M valuation","bullets":["Definitive merger agreement values Blackstar Orbital at $380 million; expected close in Q1 2027.","Blackstar develops SpaceDrone reusable orbital spacecraft for government and commercial customers.","Blackstar has $1.9M in U.S. government R&D funding and over $120M in signed commercial LOIs.","Pono will change name to Blackstar Orbital Corporation; Blackstar survives as wholly owned subsidiary.","Transaction subject to Pono shareholder and Blackstar stockholder approvals and customary conditions."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-085946","json":"https://secwatch.observer/filing/0001213900-26-085946.json","markdown":"https://secwatch.observer/filing/0001213900-26-085946.md","text":"https://secwatch.observer/filing/0001213900-26-085946.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2108164/000121390026085946/0001213900-26-085946-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2108164/000121390026085946/ea0300839-8k_ponocapital.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-08-06T13:25:05.759547+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}