# Pono Capital Four, Inc. (PONOU) — spac/ipo [announced]
Source: SEC API (secapi.ai) · situation sit_259c6f044566fc1ef09e · retrieved 2026-08-12T07:20:00.587Z

## Overview
Blackstar Orbital Technologies Corporation is an aerospace technology company engaged in the design, development, testing, manufacture and commercialization of reusable spacecraft, orbital transportation and reentry systems, and related technologies and services, including in-space logistics, payload hosting, rapid downmass, research and development, prototyping and government contracting.

On August 5, 2026, Pono Capital Four, Inc. (a Cayman Islands exempted company that will domesticate as a Delaware corporation prior to closing) entered into a merger agreement with Blackstar Orbital Technologies Corporation, a Delaware aerospace technology company engaged in designing, developing, and commercializing reusable spacecraft and orbital transportation systems. Under the agreement, Blackstar equityholders will receive an aggregate of Parent Common Shares equal to $380,000,000 (the Base Purchase Price) divided by the Redemption Price, with approximately 25% of the Aggregate Merger Consideration placed into escrow for six years to secure indemnification and litigation claims. The merger is expected to close following shareholder approvals and satisfaction of customary closing conditions, with the combined company to be renamed "Blackstar Orbital Corporation."

## Terms
- Counterparty: Blackstar Orbital Technologies Corporation · Deal value: $380.0M · Consideration: stock

## Key dates
- Announced 2026-08-06

## Timeline
- 2026-08-06 · 8-K (0001213900-26-086293): 8-K - Pono Capital Four, Inc. — *Blackstar Orbital Technologies Corporation is an aerospace technology company engaged in the design, development, testing, manufacture and commercialization of reusable spacecraft, orbital transportation and reentry systems, and related technologies and services, including in-space logistics, payload hosting, rapid downmass, research and development, prototyping and government contracting.* On August 5, 2026, Pono Capital Four, Inc. (a Cayman Islands exempted company that will domesticate as a Delaware corporation prior to closing) entered into a merger agreement with Blackstar Orbital Technologies Corporation, a Delaware aerospace technology company engaged in designing, developing, and commercializing reusable spacecraft and orbital transportation systems. Under the agreement, Blackstar equityholders will receive an aggregate of Parent Common Shares equal to $380,000,000 (the Base Purchase Price) divided by the Redemption Price, with approximately 25% of the Aggregate Merger Consideration placed into escrow for six years to secure indemnification and litigation claims. The merger is expected to close following shareholder approvals and satisfaction of customary closing conditions, with the combined company to be renamed "Blackstar Orbital Corporation."
  https://www.sec.gov/Archives/edgar/data/2108164/0001213900-26-086293.txt

## Citations
- 0001213900-26-086293 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026086293