---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-003426"
form_type: "8-K"
ticker: "SBC"
cik: "0001930313"
company_name: "SBC Medical Group Holdings Inc"
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T02:46:20.300058+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Pono Capital Two enters $1.2B merger with SBC Medical Group Holdings

## Summary
- Merger consideration of $1.2B, subject to net working capital and debt adjustments.
- Restructuring of SBC Japan and affiliated entities required before closing.
- Lock-up on shares; 1/3 released at each of $13, $15, $17 stock price thresholds.
- Closing conditions include stockholder approvals, SEC review, and Nasdaq listing.

## SEC filing metadata
- accession: 0001493152-23-003426
- form_type: 8-K
- ticker: SBC
- cik: 0001930313
- company_name: SBC Medical Group Holdings Inc
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1930313/000149315223003426/0001493152-23-003426-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1930313/000149315223003426/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-003426
- JSON: https://secwatch.observer/filing/0001493152-23-003426.json
- Plain text: https://secwatch.observer/filing/0001493152-23-003426.txt

## Key facts
- Material Agreements
  SBC Medical Group Holdings Inc entered into Merger Agreement with Pono Capital Two, Inc. valued at $1,200,000,000 (effective 2023-01-31).
  - Action: entry
  - Agreement: merger
  - Counterparty: Pono Capital Two, Inc.
  - Value: $1,200,000,000
  - Effective: 2023-01-31
  source text: on January 31, 2023, Pono Capital Two, Inc., a Delaware corporation (“ Pono ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”), by and among Pono, Pono Two Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Pono (“ Merger Sub ”), SBC Medical Group Holdings Incorporated, a Delaware corporation (“ SBC ”), Mehana Capital, LLC, in its capacity as Purchaser Representative, and Dr. Yoshiyuki Aikawa, in his capacity as Seller Representative.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1930313/000149315223003426/0001493152-23-003426-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.