Vietnam Sunergy Cell Company Limited, A Vietnam Solar Solution Company To Become A Publicly Traded Company Via Business Combination With Blue World Acquisition Corporation
Portfolio Pulse from Happy Mohamed
Vietnam Sunergy Cell Company Limited (TOYO Solar) and Blue World Acquisition Corporation (NASDAQ:BWAQ) have announced a definitive business combination agreement. Post the transaction, Blue World will merge into a wholly owned subsidiary of TOYO Solar's parent company, TOYO Co., Ltd, which will be the holding company of the combined entity and be listed on Nasdaq. The transaction has been approved by the directors and shareholders of both companies and is expected to close in H1 2024, subject to regulatory approvals.
August 10, 2023 | 12:35 pm
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Blue World Acquisition Corporation is set to merge with TOYO Solar as part of a business combination agreement. The combined entity will be listed on Nasdaq, potentially increasing the value of BWAQ shares.
The merger with TOYO Solar and the subsequent listing of the combined entity on Nasdaq could potentially increase the value of BWAQ shares. However, the transaction is subject to regulatory approvals and is expected to close only in H1 2024, which introduces a degree of uncertainty.
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