Pono Capital Two Inc
For the period ended Dec 31, 2023. Filed Mar 19, 2024.
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FY2023 · Filed Mar 19, 2024
SBC$5.29+0.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the year ended December 31, 2023 | For the period from March 11,2022 (inception) through December 31, 2022 | |
|---|---|---|
| Cash Flows from Operating Activities: | ||
| Net income | $339,767 | $552,813 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Interest and dividend income on investments held in Trust Account | (2,641,407) | (1,345,016) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | 126,476 | (236,625) |
| Accounts payable | (35,530) | 79,440 |
| Accrued expenses | 403,630 | 76,420 |
| Franchise tax payable | (88,666) | 161,644 |
| Income tax payable | (237,191) | 248,508 |
| Net cash used in operating activities | (2,132,921) | (462,816) |
| Cash Flows from Investing Activities: | ||
| Investment of cash in Trust Account | — | (117,875,000) |
| Proceeds from Trust Account to pay taxes | 931,751 | — |
| Proceeds from Trust Account for payment to redeeming shareholders | 100,078,879 | — |
| Net cash provided by (used in) investing activities | 101,010,630 | (117,875,000) |
| Cash Flows from Financing Activities: | ||
| Proceeds from convertible promissory note | 1,000,000 | — |
| Payment to redeeming shareholders | (100,078,879) | — |
| Proceeds from sale of private placement units | 6,343,750 | |
| Proceeds from issuance of Class B common stock to Sponsor | — | 25,000 |
| Proceeds from sale of Units, net of underwriting discount paid | 113,045,000 | |
| Proceeds from promissory note - related party | — | 300,000 |
| Repayment of Promissory note - related party | (300,000) | |
| Advance from Sponsor for payment of formation costs | — | 412 |
| Repayment to Sponsor for payment of formation costs | — | (412) |
| Payment of offering costs | — | (590,370) |
| Net cash (used in) provided by financing activities | (99,078,879) | 118,823,380 |
| Net Change in Cash | (201,170) | 485,564 |
| Cash - Beginning of period | 485,564 | — |
| Cash - End of period | $284,394 | $485,564 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Excise tax related to redemption of Class A common stock | $1,000,789 | $— |
| Shareholder non-redemption agreement | $709,691 | $— |
| Accretion of Class A common stock subject to redemption to redemption amount | $1,975,219 | $13,120,621 |
| Fair value of Representative Shares | $— | $67,275 |
| Deferred underwriting fee payable | $— | $4,025,000 |
| Cash paid for income and franchise taxes | $992,045 | — |
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