Pono Capital Two completes $115M IPO and private placement, trust funded at $10.25/share

SBC Medical Group Holdings Inc

IPO of 11,500,000 units at $10.00 per unit (including full over-allotment) raised $115M gross.
Private placement of 634,375 units to sponsor at $10.00 each raised additional $6,343,750.
Total net proceeds of $121,343,750 deposited in trust account; redemption value per public share is $10.25.
Audited balance sheet shows $117,875,000 in trust, $951,342 cash outside, and $3,081,544 accumulated deficit.
Must complete a business combination by May 9, 2023 or liquidate; going concern uncertainty noted in audit opinion.

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