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SPAC · Merger completed

Blue World Acquisition Corp

Business combination with Vietnam Sunergy Cell Company Limited and affiliates

Blue World Acquisition Corp is a blank-check company (SPAC) that raised $80M in its initial public offering on Jan 31, 2022, listing on Nasdaq Global Market. It completed its business combination with Vietnam Sunergy Cell Company Limited and affiliates on Jul 1, 2024; the combined company is TOYO Co., Ltd (TOYO). Robinson & Cole advised the SPAC and Loeb & Loeb advised the underwriters on the IPO.

Vietnam Sunergy Cell Company Limited, known as TOYO Solar, is an indirect subsidiary of Fuji Solar that aims to be a full-service solar provider in the United States and globally, spanning wafer, solar cell and PV module production.

Status
Merger completed
IPO date
Jan 31, 2022
IPO size
$80M
IPO exchange
Nasdaq Global Market
Target
Vietnam Sunergy Cell Company Limited and affiliates
Announced
Feb 6, 2024
Closed
Jul 1, 2024
Combined company
TOYO Co., Ltd (TOYO)
SPAC counsel (IPO)
Robinson & Cole and Ogier
Underwriters' counsel (IPO)
Loeb & Loeb

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