TOYO Co., Ltd Announces Consummation of Business Combination and Debut on Nasdaq

[07-02-2024] TOYO Co., Ltd, a solar solution company, and Blue World Acquisition Corporation (BWAQ) ("Blue World") (NASDAQ: BWAQ) today announced the completion of the previously announced business combination between Vietnam Sunergy Cell Company Limited, a wholly-owned subsidiary of TOYO, and Blue World. The listed company following the Business Combination is TOYO Co., Ltd. The ordinary shares of TOYO are expected to commence trading on the Nasdaq on July 2, 2024, under the ticker symbol "TOYO." The warrants of TOYO are expected to commence trading on the OTC Markets.

About TOYO:

TOYO is a solar solution company and is committed to becoming a reliable full service solar solutions provider in the global market, integrating the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well positioned to produce high quality solar cells at a competitive scale and cost.

About Blue World:

Blue World Acquisition Corporation is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.