TOYO Secures $50 Million for Texas Solar Manufacturing Facility

The offering, which closed on June 25, 2026, paired each ordinary share with a warrant at a combined price of $11.00. These warrants carry an exercise price of $13.20 and remain valid for five years from issuance. Roth Capital Partners and H.C. Wainwright & Co. served as the exclusive co-placement agents for the transaction, utilizing a shelf registration statement that originally became effective in November 2025.

Beyond the primary objective of funding the Texas HJT facility, the company plans to allocate the remaining net proceeds toward general corporate operations. Robinson & Cole LLP provided legal counsel to TOYO, while the placement agents were advised by Pryor Cashman LLP. This move aligns with TOYO’s broader strategy to establish a vertically integrated supply chain, spanning from silicon wafer production to the final assembly of photovoltaic modules.