- SBC Medical scheduled to begin trading on Nasdaq on
September 18, 2024 under the ticker symbol “SBC”
- SBC Medical is a global owner, operator and provider of
management services and products to cosmetic treatment
centers
SBC Medical Group Holdings Incorporated (“SBC Medical”, or the
“Company”), a global owner, operator and provider of management
services and products to cosmetic treatment centers, and Pono
Capital Two, Inc. (“Pono Capital Two”) (Nasdaq: PTWO), a special
purpose acquisition company, today announced the completion of
their previously announced business combination (the “Business
Combination”). The Business Combination was approved at a special
meeting of Pono Capital Two’s stockholders on August 23, 2024, and
it closed on September 17, 2024. Beginning on September 18, 2024,
SBC Medical’s shares of common stock and warrants will begin to
trade on the Nasdaq Global Market and Nasdaq Capital Market
(collectively, “Nasdaq”), respectively, under the ticker symbols
“SBC” and “SBCWW,” respectively.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240904728401/en/
SBC Medical Group Holdings, through its
subsidiaries, provides services to support the operation of clinics
that deliver highly specialized medical services in the areas of
cosmetic medicine, esthetic dentistry, and Androgenetic Alopecia or
AGA, primarily in Japan and centered on the SBC Shonan Beauty
Clinic Brand. SBC Medical and its subsidiaries now provide
management services to a total of 164 franchisee treatment centers
located in Japan with the support of approximately 1,639 employees
globally, a majority of which are located in Japan. SBC Medical
also owns and operates one treatment center in Vietnam and provides
management services to one treatment center in California. (Photo:
Business Wire)
The Business Combination is expected to provide SBC Medical with
improved access to sources of new capital, accelerate business
alliance opportunities, facilitate the expansion of its clinic
operation support business in the United States and Southeast Asia,
and expand its franchise clinic network in Japan and overseas.
Management and Governance
SBC Medical will continue to be led by Yoshiyuki Aikawa,
Director, Chairman and Chief Executive Officer of the Company, and
the rest of the current SBC Medical management team. SBC Medical’s
Board of Directors is comprised of five directors, including
Yoshiyuki Aikawa, Yuya Yoshida, Ken Edahiro, Mike Sayama, and
Fumitoshi Fujiwara.
Yoshiyuki Aikawa, CEO of SBC Medical, said:
“We are focused on providing premium care and value to our
customers and their patients through transformative treatments and
technologies that empower people to positively change their lives
and meet new challenges under our 'Group Purpose.' Through medical
innovation, we aim to contribute to improving the well-being of
people where we operate. I am confident that our listing on Nasdaq
can contribute to our further growth and allow us to offer our
advanced consulting services to clinic networks, not only in Japan
but other locations internationally, while maintaining our high
standards of ‘Japan Quality.’”
Darryl Nakamoto, CEO of Pono Capital Two, said:
“We appreciate the effort and commitment of all the parties
involved in this business combination. The listing of SBC Medical
on Nasdaq through a business combination with Pono Capital Two is
both a milestone for SBC Medical and a step toward international
growth for the Company. Our belief has been that a promising
Japan-based company, together with a U.S.-listed company, will help
to unlock value for all our shareholders.”
SBC Medical Highlights
- Scalable Business Model with Significant Runway: SBC
Medical has a demonstrated track record of expanding its revenue
base with a history of profitability.
- Profitability Enables Continued Future Investment for
Growth: The Company believes that the Business Combination will
enable it to accelerate its market expansion organically and
inorganically, utilizing the capital raised from the Business
Combination and future access to international capital markets.
Furthermore, the Business Combination is expected to enhance the
Company’s profile and brand, and boost its ability to attract and
retain top talent to further strengthen its competitive
position.
- Focused on High Growth Markets: The Company believes
that its international reach, coupled with a strong local presence
and recognized execution capability, uniquely positions it for
success in the United States and Southeast Asia markets.
- Industry Leading Talent and Local Expertise: SBC Medical
is a people-first and customer-centric organization led by a
low-turnover, long-tenured management team with deep experience in
the medical service market.
- New Product Lines and Product Categories on the Horizon:
SBC Medical anticipates significant organic growth opportunities in
sales of high-quality beauty treatment products and from the
expansion of research and development of new medical technologies
and equipment.
- Going Public. SBC Medical has gone public for the
purpose of enhancing its international brand and to facilitate the
expansion of its clinic operation support business in the United
States and Southeast Asia to accelerate growth.
- Growth Plans. SBC Medical plans to pursue various
strategic options including business alliances with leading clinics
and hospital groups, mainly in the United States and Southeast
Asia, as well as expand its franchise clinic network in Japan and
overseas, strengthen its ability to meet the inbound demand in
Japan, expand its research and development of new medical
technologies and equipment, and compete in areas of regenerative
medicine and anti-aging.
SBC Medical Business Overview
SBC Medical, through its subsidiaries, provides services to
support the operation of clinics that deliver highly specialized
medical services in the areas of cosmetic medicine, esthetic
dentistry, and Androgenetic Alopecia or AGA, primarily in Japan and
centered on the SBC Shonan Beauty Clinic Brand. SBC Medical and its
subsidiaries now provide management services to a total of 164
franchisee treatment centers located in Japan. SBC Medical also
owns and operates one treatment center in Vietnam and provides
management services to one treatment center in State of California
in the United States.
SBC Medical aims to realize the “Ultimate Win-Win for All” by
utilizing its expertise in clinic management support that it has
cultivated in the Japanese market, to expand its management
services globally, and provide value to all customers.
Beauty treatment is an advanced service that provides the value
of “living beautifully and healthily.” This is an area where
advances in service levels and affordable prices are expected, not
only through innovation in beauty treatments, but also through
cutting-edge knowledge such as regenerative medicine, significant
advances in medical equipment, and the use of technologies such as
artificial intelligence or AI. Accordingly, unlike conventional
“cosmetic surgery” in a narrow sense, SBC Medical will support the
provision of advanced medical services at prices that are
affordable for customers. At the same time, the Company plans to
capture our customers’ needs related to cosmetics, diet products,
and luxury brand products.
In addition, as the world’s population ages, the need to “live
beautifully and healthily” for a longer period of time is expected
to further increase, particularly in the anti-aging field. SBC
Medical expects the global market to significantly expand,
especially in Southeast Asia due to the increased demand for
services and products by the new and growing wealthy class.
Advisors
Loeb & Loeb LLP acted as US legal counsel to Pono Capital
Two and Anthony, Linder & Cacomanolis, PLLC acted as US legal
counsel to SBC Medical in the transaction. EF Hutton LLC served as
Capital Markets Advisor to Pono Capital Two.
About SBC Medical
SBC Medical is a global owner, operator and provider of
management services and products to cosmetic treatment centers. For
more information, visit https://sbc-holdings.com/
About Pono Capital Two
Pono Capital Two is a special purpose acquisition company whose
business purpose is to affect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses or entities.
Forward Looking
Statements
Certain statements herein are “forward-looking statements” with
respect to the proposed business combination. These forward-looking
statements generally are identified by the words “believe,”
“project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “aim,” “future,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result” and similar expressions, but the absence of these words
does not mean that a statement is not forward-looking.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Actual results may differ from their
expectations, estimates and projections and consequently, you
should not rely on these forward-looking statements as predictions
of future events. Many factors could cause actual future events to
differ materially from the forward-looking statements contained
herein, including but not limited to: (i) risks that the proposed
business combination disrupts the current plans of SBC Medical;
(ii) the risk that the Company will need to raise additional
capital to execute its business plans, which may not be available
on acceptable terms or at all; (iii) the ability of the parties to
recognize the benefits of the Business Combination; (iv) the lack
of useful financial information for an accurate estimate of future
capital expenditures and future revenue; (v) statements regarding
SBC Medical’s industry and market size; (vi) financial condition
and performance of SBC Medical and Pono Capital Two, including the
anticipated benefits, the implied enterprise value, the expected
financial impacts of the business combination, potential level of
redemptions of Pono Capital Two’s public stockholders, the
financial condition, liquidity, results of operations, the
products, the expected future performance and market opportunities
of SBC Medical; and (vii) those factors discussed in Pono Capital
Two’s filings with the SEC, including without limitation the
definitive proxy statement filed as of August 12, 2024. You should
carefully consider the foregoing factors and the other risks and
uncertainties that are described in the “Risk Factors” section of
such definitive proxy statement and other documents to be filed by
Pono Capital Two from time to time with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and while SBC Medical and Pono Capital Two may elect to update
these forward-looking statements at some point in the future, they
assume no obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise, subject to applicable law. None of SBC Medical or
Pono Capital Two gives any assurance that SBC Medical and Pono
Capital Two will achieve their respective expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240904728401/en/
In Asia: SBC Medical Group Holdings Incorporated Hikaru Fukui /
Head of Investor Relations E-mail: ir@sbc-holdings.com
In the US: ICR LLC Bill Zima / Managing Partner Email:
bill.zima@icrinc.com
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