Fort Lauderdale, Fla. – August 7, 2026 – Greenspoon Marder served as U.S. legal counsel to Blackstar Orbital Technologies Corporation in its definitive agreement to become a publicly traded company through a business combination with Pono Capital Four, Inc. (Nasdaq: PONO, PONOU, PONOR).
Greenspoon Marder Partner James A. Wolff led the transaction for Blackstar Orbital. Wolff, a member of the firm’s Corporate and Innovation & Technology practice groups, has advised the company on prior financings and brings direct experience in the aerospace sector, including service on the National Space Society’s Board of Directors.
Blackstar Orbital, a Delaware-based aerospace company, builds reusable orbital spacecraft. Under the agreement, Blackstar Orbital will merge with a wholly owned subsidiary of Pono Capital Four and continue as the surviving company. The transaction values Blackstar Orbital at $380 million. Once the merger closes, Pono Capital Four will change its name to Blackstar Orbital Corporation.
Blackstar Orbital is developing SpaceDrone™, a reusable orbital spacecraft platform designed to launch on existing rockets, complete missions in low Earth orbit, return cargo to Earth, and land on a runway for recovery and reuse. Proceeds from the transaction will fund continued development of the technology and support general corporate purposes.
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