# EDGAR Filing Document

**Accession Number:** 0001321269
**File Stem:** 0001493152-23-007034
**Filing Date:** 2023-3
**Character Count:** 6839
**Document Hash:** f5b5039cb60e5cfd0ae968fc63436fa4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-007034.hdr.sgml**: 20230308

**ACCESSION NUMBER**: 0001493152-23-007034

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20220809

**FILED AS OF DATE**: 20230308

**DATE AS OF CHANGE**: 20230308

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Shindo Dustin M
- **CENTRAL INDEX KEY:** 0001321269

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41462
- **FILM NUMBER:** 23717607

**MAIL ADDRESS:**
- **STREET 1:** HOKU CORPORATION
- **STREET 2:** 1288 ALA MOANA BLVD STE 220
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96814
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pono Capital Two, Inc.
- **CENTRAL INDEX KEY:** 0001930313
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 881263511
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 4348 WAIALAE AVE., #632
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96816
- **BUSINESS PHONE:** 8088926611

**MAIL ADDRESS:**
- **STREET 1:** 4348 WAIALAE AVE., #632
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96816

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Shindo Dustin M<br><sub>(Last) (First) (Middle)</sub><br>643 ILALO ST. #102<br>1288 ALA MOANA BLVD STE 220<br><sub>(Street)</sub><br>HONOLULU, HI 96813<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-08-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Pono Capital Two, Inc. [ PTWO ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2022-08-09 |  | P |  | 634375<sup>(1)</sup> | A | $10.00 | 634375 | I | See footnote<sup>(2)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Warrants to purchase Class A Common Stock | $11.5 | 2022-08-09 |  | P |  | 634375 |  | <sup>(3)</sup> | <sup>(4)</sup> | Class A Common Stock | 634375 | <sup>(1)</sup> | 634375 | I | See footnote<sup>(2)</sup> |

---

### Footnotes:

(1) The reporting person acquired 634,375 units, each unit consisting of one share of Class A Common Stock and one redeemable warrant, with each warrant entitling the holder thereof to purchase one share of Class A Common Stock for $11.50 per share.

(2) The securities are held directly by Mehana Capital LLC, the sponsor of the issuer (the "Sponsor"). Dustin Shindo, the registrant's chairman, is the manager of the Sponsor. Mr. Shindo may be deemed to beneficially own shares held by the Sponsor by virtue of his control over the Sponsor. Mr. Shindo disclaims beneficial ownership of the securities held by the Sponsor, except to the extent of his respective pecuniary interest.

(3) The warrants become exercisable on the later of (i) 30 days after the completion of the registrant's initial business combination and (ii) 12 months from the effective date of the registration statement on Form S-1 (File No. 333-265571) for registrant's initial public offering.

(4) The warrants expire 5 years after the completion of the registrant's initial business combination or earlier upon redemption or liquidation, as described in the registrant's prospectus filed with the SEC.

**Signature:** By Dustin Shindo /s/ Dustin Shindo  
**Date:** 2023-03-08

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**