Pono Capital Four, Inc. — Form 8-K

Pono Capital Four, Inc. (NASDAQ: PONO), a SPAC, has signed a definitive merger agreement with Blackstar Orbital Technologies Corporation, valuing Blackstar Orbital at $380 million. Blackstar Orbital develops SpaceDrone, a reusable orbital spacecraft platform, and has secured $1.9M in U.S. government R&D funding and $120M+ in signed commercial letters of intent. The merger is expected to close in Q1 2027, subject to Pono shareholder approval and customary closing conditions; Blackstar Orbital will become a wholly owned subsidiary and Pono will rebrand to Blackstar Orbital Corporation.