Pono Capital Two amends merger agreement with SBC Medical; extends due diligence, adds $1M investment condition

SBC Medical Group Holdings Inc

Amendment extends Pono's due diligence review period from April 28 to May 31, 2023.
Sponsor can now direct earlier or later issuance of 1.2M sponsor shares, at its discretion, but not before closing.
SBC (or affiliate) agrees to invest $1M in sponsor Mehana Capital LLC; investment docs due May 5, payment due May 15.
If investment docs not signed by May 5, either party may terminate merger; if payment not received by May 15, Pono may terminate.
Amendment clarifies extension expenses are paid by Purchaser.

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