Western startup Aerwins Systems, which is selling the Star Wars-inspired US$555, 000 hoverbike, provides received approval to list on the NASDAQ in a merger with blank-check firm Pono Capital Corp, the maker said on Friday (Feb 3).
Aerwins, that is taking orders for your XTurismo hoverbike with a motorcycle-like body along with propellers that it revealed last year, estimates it can be valued at US$600 million in the deal.
The deal comes at a time when additional mobility startups have got faced difficulty increasing funding, with values under pressure and a sharp reversal of exactly what had been a market growth for listings by means of special-purpose acquisition companies (SPAC).
SPACs, like Pono, increase money in public offerings and then aim to combine with a private company to take it community, offering a smaller listing timeframe to the acquired company.
Shares in Pono closed up twenty-four per cent on Thursday night, the largest gain as it listed in 2021.
Aerwins, which also sells drones plus related technology, says its hoverbike may fly for up to 40 minutes and up to 100kmh. It has frequency the bike as being a tool for rescue workers, infrastructure examination and as a showpiece for public amusement.
The 300kg machine rests upon landing skids when stationary and is powered by an motor from Kawasaki Heavy and a battery program.