The deal saw Casio and Ebona go to the Bossing in exchange for Mike Tolomia and a 2022 second-round draft pick.
The deal was approved by the PBA trade committee on Tuesday night.
The move is just the latest to be made by Blackwater following the hiring of Ariel Vanguardia as head coach, replacing Nash Racela.
Blackwater should benefit from the scoring and leadership of Casio and the rebounding of Ebona - something the Bossing have been looking to address following a 0-11 campaign in the 2021 PBA Philippine Cup.
Since replacing Racela with Vanguardia, the Bossing have acquired Rashawn McCarthy from Terrafirma in a trade for Simon Enciso and signed free agent Val Chauca.
Casio, Alaska part ways
If the trade becomes official, Casio will end his nine-year stint with Alaska, his second team in the league since being drafted first overall by Powerade in the 2011 draft.
Ebona is in his sophomore season with the Aces after being drafted by the team fourth overall in the 2019 draft.
Tolomia had a good conference with the Bossing, playing in all 11 games off the bench and averaging 11.7 points, third for the team, while also contributing 3.1 rebounds and 2.9 assists.
Tolomia has played under Racela since his time with the FEU Tamaraws in the UAAP.