Pono Capital Two issues $1M convertible note to SBC, extends merger agreement deadline to June 15

SBC Medical Group Holdings Inc

On May 26, 2023, issued $1M convertible promissory note to SBC Medical Group, convertible into 100,000 shares at $10.00/share upon merger close.
Note bears no interest; principal due May 17, 2024 or earlier if merger closes.
On May 30, 2023, extended deadline for completion of disclosure schedules and due diligence from May 31 to June 15, 2023.
Shares issued upon conversion subject to lock-up agreement with six-month minimum period.

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