InvestmentJun 26, 2026, 04:33 PM
TOYO Closes $50M Registered Direct Offering
AI Summary
TOYO Co., Ltd. announced the closing of its registered direct offering, raising approximately $50 million in gross proceeds. The offering involved the issuance of 4,545,456 ordinary shares and an equal number of purchase warrants at a combined price of $11.00 per share and warrant. The company intends to use the net proceeds to construct a 1.5 GW heterojunction solar cell manufacturing facility in the Houston metropolitan area, Texas, and for general corporate purposes.
Key Highlights
- Closed registered direct offering for approximately $50 million gross proceeds.
- Issued 4,545,456 ordinary shares and 4,545,456 purchase warrants.
- Combined purchase price was $11.00 per share and associated warrant.
- Purchase warrants have an exercise price of $13.20 per share.
- Warrants are exercisable immediately and expire in five years.
- Net proceeds will fund a 1.5 GW HJT solar cell manufacturing facility in Houston.
- Placement agents received a cash fee of 5.50% of gross proceeds.
Price Impact
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