Pono Capital Four signs merger deal with Blackstar Orbital at $380 million valuation
PONO•Merger agreement with Blackstar Orbital
Pono Capital Four signed a merger agreement with Blackstar Orbital Technologies, taking the reusable spacecraft developer public.
Blackstar Orbital will merge with Pono’s merger subsidiary, becoming a wholly owned unit; Pono plans to rename to Blackstar Orbital Corporation.
The transaction values Blackstar Orbital at $380 million. Closing is targeted for Q1 2027, subject to shareholder approvals and customary conditions.
Net cash proceeds are expected to fund technology development and general corporate purposes.
Blackstar Orbital reported $1.9 million in U.S. government R&D funding, backed by signed commercial LOIs exceeding $120 million.
