The Japanese maker of a “Star Wars”-inspired flying motorcycle will list on the tech-heavy Nasdaq starting Friday, according to a report.
ALI Technologies, maker of the Xturismo hover bike, is in the process of merging with Pono Capital Corp., a blank check firm, with a view to going public, Bloomberg News reported.
The 660-pound electric bike is 12 feet long and can carry a passenger weighing up to 220 pounds. The bike has a top speed of 50 miles per hour with a range of 40 miles.
Last October, former New York Mets shortstop Tsuyoshi Shinjo climbed a prototype on a baseball field — reaching heights of about 20 feet — before the start of a game in Hokkaido, Japan, where he manages a major league team. country baseball.
The first hover bike was sold for $555,000 in Japan last December.
However, riders won’t be able to board the high-tech vehicle to beat congestion in congested cities like Tokyo or New York, where laws prohibit their use over roads.
Founded by former Merrill Lynch trader Shuhei Komatsu in 2016, ALI Technologies originally built drones. It then expanded its operations to create hover bikes, inspired by the speeders used by Luke Skywalker and others in the “Star Wars” movies.
A company spokesman told Bloomberg that talks between ALI Technologies and a blank check company known as a special purpose acquisition company (SPAC) are ongoing, although no details were provided.
The merged company will be wholly owned by Aerwins Technologies, which is the US division of Tokyo-based ALI Technologies, according to Bloomberg News.
When it starts trading on Wall Street, the company will have a market capitalization of $600 million.
ALI Technologies initially explored the possibility of entering Japan, but was deterred by the lengthy registration process. Instead, it chose to list on the Nasdaq.