Blue World Acquisition in a regulatory filing said $60,000 was deposited into trust to exctend its completion deadline to April 2. The SPAC has a deal to acquire Vietnam Sunergy Cell Company Limited (dba TOYO), a subsidiary of Fuji Solar.
TOYO focuses on solar photovoltaic products in Southeast Asia. TOYO plans to invest $350 million in a cell factory in Phu Tho Province, Vietnam.
Blue World raised $92 million in a February 2022 IPO, although redemptions since then have left it with about $41 million in trust. Read more.
