{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-019259","form_type":"8-K","ticker":null,"cik":"0001878074","company_name":"Blue World Acquisition Corp","filed_at":"2024-03-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.200271+00:00","generated_at":"2026-06-05T05:02:41.939222+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"BWAQ amends merger agreement with TOYO Co., restructuring PubCo shareholders and adding earnout escrow","bullets":["Fuji Solar transfers all PubCo shares to three new holding companies: WAG, Belta, BestToYo at $0.0001/share.","Pre-closing restructuring: WAG, Belta, BestToYo to hold 41M PubCo shares; merger conditions unchanged.","Earnout escrow of 13M PubCo shares: fully vest if 2024 audited net profit >= $41M, otherwise pro-rata release.","Amended and restated shareholder lock-up, sponsor lock-up, registration rights, and warrant assumption agreements filed.","No change to merger consideration or closing conditions; deal remains subject to SPAC shareholder approval."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-019259","json":"https://secwatch.observer/filing/0001213900-24-019259.json","markdown":"https://secwatch.observer/filing/0001213900-24-019259.md","text":"https://secwatch.observer/filing/0001213900-24-019259.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1878074/000121390024019259/0001213900-24-019259-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1878074/000121390024019259/ea0200813-8k425_blue.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T05:02:41.939222+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"f32279a349bf774235251f6fbc64b75c86896311","claim":"Blue World Acquisition Corp amended Amendment to the Merger Agreement with TOYO Co., Ltd, TOYOone Limited, TOPTOYO INVESTMENT PTE. LTD., Vietnam Sunergy Cell Company Limited, Vietnam Sunergy Joint Stock Company, Fuji Solar Co., Ltd, WA Global Corporation, Belta Technology Company Limited, BestToYo Technology Company Limited (effective 2024-02-29).","evidence_excerpt":"On February 29, 2024, Blue World Acquisition Corporation (“ BWAQ ”) entered into an Amendment No. 3 (the “ Amendment to the Merger Agreement ”) to the Agreement and Plan of Merger, dated as of August 10, 2023, as amended on December 6, 2023 and February 6, 2024 (as the same may be amended, restated or supplemented, the “ Merger Agreement ”) with TOYO Co., Ltd, a Cayman Islands exempted company (“ PubCo ”), TOYOone Limited, a Cayman Islands exempted company (“ Merger Sub ”), TOPTOYO INVESTMENT PTE. LTD., a Singapore private company limited by shares (“ SinCo ”), Vietnam Sunergy Cell Company Limited, a Vietnamese company, (“ TOYO Solar ”, together with PubCo, Merger Sub and SinCo, the “ Group Companies ”, or each individually, a “ Group Company ”), Vietnam Sunergy Joint Stock Company, a Vietnam joint stock company (“ VSUN ”), Fuji Solar Co., Ltd, a Japanese company (“ Fuji Solar ”), WA Global Corporation, a Cayman Islands exempted company (“ WAG ”), Belta Technology Company Limited, a Ca","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1878074/000121390024019259/0001213900-24-019259-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"TOYO Co., Ltd, TOYOone Limited, TOPTOYO INVESTMENT PTE. LTD., Vietnam Sunergy Cell Company Limited, Vietnam Sunergy Joint Stock Company, Fuji Solar Co., Ltd, WA Global Corporation, Belta Technology Company Limited, BestToYo Technology Company Limited"},{"label":"Effective","value":"2024-02-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}