Pono Capital Two reduces merger consideration for SBC Medical from $1.2B to $1.0B

SBC Medical Group Holdings Inc

Amendment to merger agreement reduces aggregate consideration from $1.2 billion to $1.0 billion.
Other terms of the merger agreement remain unchanged; closing conditions and structure preserved.
Transaction requires stockholder approval; Pono to file proxy statement with SEC.
Pono Capital Two (PTWO) entered into amendment on September 8, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SBC Medical Group Holdings Inc amended First Amendment to the Agreement and Plan of Merger with Pono Capital Two, Inc. valued at reduced merger consideration from $1,200,000,000 to $1,000,000,000 (effective 2023-09-08).

Action: amendment
Agreement: merger
Counterparty: Pono Capital Two, Inc.
Value: reduced merger consideration from $1,200,000,000 to $1,000,000,000
Effective: 2023-09-08

Exact text from the filing

Pursuant to the Amendment, the $1,200,000,000 amount in the Merger Consideration calculation above was reduced to $1,000,000,000.

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Source: SEC EDGAR

accession 0001493152-23-032156

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