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.

Pono Capital Four signed a definitive agreement to merge with Blackstar Orbital Technologies, a developer of reusable orbital spacecraft, in a transaction valuing the target at $380 million. Blackstar’s SpaceDrone platform is designed to return payloads from orbit to a runway, supported by $1.9 million in U.S. Space Force funding and over $120 million in commercial letters of intent.

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