BWAQ SEC filings, in plain English
Everything Blue World Acquisition Corp has filed with the SEC that we hold — 40 filings, newest first, 2 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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- What changed vs 2024-02-13deadline 2024-04-02 → 2024-11-02sponsor loan $2.5M → $2.6M
combination deadline, sponsor loans outstanding, trust account +12 moved · 2 with no prior record of ours
- Combination deadline
- 2024-04-022024-11-02
- Sponsor loans outstanding
- $2.5M$2.6M
- Trust account
- $70.2M · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 214 days later than the previous record.
The clause …“times, each by an additional one month, for a total of up to seven months, to November 2, 2024, by depositing $60,000 each month into the Trust Account. In connection with the March 2024 Meeting, 1,059,186 Class A Ordinary Shares were”…
SpacBrain reads this as the sponsor has advanced $153,421 more.
The clause …“meet our obligations. As of March 31, 2024 and June 30, 2023, the Company had borrowings of $2,645,506 and $1,872,085 under the Promissory Notes, respectively. Due to Related Parties From time to time, Mr. Liang Shi, the Company’s”…
The clause …“interest-bearing bank demand deposit account. As of June 30, 2023, the assets held in the Trust Account include $ 70,186,561 of investments held in money market funds, which are invested in U.S. Treasury securities and characterized as”…
The clause …“of a Business Combination. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Blue World Acquisition Corporation's proxy statement and prospectus for its combination with TOYO Co., Ltd covers up to 7,923,658 ordinary shares, 5,005,672 warrants and 5,005,672 ordinary shares issuable on exercise, under an Agreement and Plan of Merger dated August 10, 2023. Closing conditions include net tangible assets of no less than $5,000,001 and minimum cash of at least $29,500,000 at the Merger Closing. The Pre-Merger Reorganization moved SinCo from Fuji Solar for SGD1.00 and had SinCo acquire TOYO Solar from VSUN for no less than $50,000,000. Why it matters: The $29,500,000 minimum cash condition is the live risk for BWAQ holders: if redemptions take the trust below it, the counterparty is not obliged to close and the deal can fail. The reorganization economics are the other flag — the same asset chain moved for SGD1.00 in one step and no less than $50,000,000 in the next, so the valuation being brought to public shareholders rests on related-party transfers rather than an arm's-length price.
What changed: Blue World Acquisition Corporation filed a proxy and prospectus for up to 7,468,412 shares, 4,944,839 warrants and 4,944,839 warrant shares of TOYO Co., Ltd, under an August 10, 2023 merger agreement with TOYO Co., Ltd as PubCo, TOYOone Limited as merger sub and TOPTOYO INVESTMENT PTE. LTD. A pre-merger reorganisation has SinCo acquired from Fuji Solar for aggregate consideration of SGD1.00 and SinCo then buying 100% of TOYO Solar from VSUN for no less than $50,000,000. Closing requires PubCo net tangible assets of at least $5,000,001 and minimum cash of at least $29,500,000. Why it matters: The $29,500,000 minimum cash condition is the number that decides whether this deal closes: if redemptions leave less than that in trust and no substitute financing appears, the condition fails and the combination can be abandoned. The reorganisation buys SinCo for one Singapore dollar and then has SinCo pay at least $50 million for TOYO Solar, a structure that moves value between related parties immediately before closing. Public holders can redeem for their pro rata trust share instead, and the working capital loan conversions required at closing add further shares ahead of them.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.