Blackstar Orbital Technologies, an innovative developer of advanced reusable spacecraft announces the signing of a definitive agreement to go public via a business combination with Pono Capital Four, a Nasdaq listed company.
Key Highlights
- ➤$380 million transaction value for Blackstar Orbital Technologies (private) via merger with Pono Capital Four (PONO).
- ➤Pono (PONO, PONOU, PONOR) shareholders and Blackstar Orbital stockholders must approve the proposed merger.
- ➤Q1 2027 expected closing, subject to shareholder approvals and other customary closing conditions.
- ➤Over $120 million in signed commercial LOIs spanning in-orbit servicing to in-space compute.
- ➤Approximately $1.9 million cumulative U.S. government R&D funding awarded, including SpaceWERX programs.
- ➤SpaceDrone™ reusable spacecraft targets low Earth orbit missions, payload return, runway landing, recovery and reuse.
- ➤Pono (PONO) plans to change its name to Blackstar Orbital Corporation after the merger closes.
- ➤Transaction cash proceeds, after redemptions and expenses, intended for technology development and general operations.
Expert Statements
Christopher Jannette, President and CEO of Blackstar Orbital
“Today’s satellites are generally designed without a return path. Blackstar Orbital is developing a spacecraft platform built around recovery, reuse and reflight.”
Christopher Jannette, President and CEO of Blackstar Orbital
“SpaceDrone is designed to launch aboard existing rockets, operate in low Earth orbit, return mission payloads to Earth and land on a runway.”
Christopher Jannette, President and CEO of Blackstar Orbital
“We believe this transaction will accelerate our path toward making repeatable access to and return from orbit a practical capability for government and commercial customers.”
Dustin Shindo, CEO of Pono
“We believe Blackstar Orbital’s approach to deploying and relaunching hypersonic satellites will help drive the space economy through greater efficiency and turnaround times.”
George Town, Grand Cayman, Cayman Islands, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Pono Capital Four, Inc. (NASDAQ: PONO, PONOU and PONOR), a special purpose acquisition company (“Pono”), has announced the execution of a definitive Agreement and Plan of Merger (the “Merger Agreement”) with Blackstar Orbital Technologies Corporation, a Delaware corporation (“Blackstar Orbital”). Pursuant to the Merger Agreement, it is intended that Blackstar Orbital will merge with Pono Four Merger Sub, Inc., a wholly owned subsidiary of Pono, with Blackstar Orbital continuing as the surviving corporation as a wholly owned subsidiary of Pono. Stockholders of Blackstar Orbital will receive shares of Common Stock of Pono (the “Merger”). In connection with the Merger, it is expected that Blackstar Orbital Technologies Corporation will remain as the name of the wholly owned subsidiary and that Pono will then change its name to “Blackstar Orbital Corporation”.
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