TOYO Co., Ltd. (Nasdaq: TOYO) (OTC:TOYWF), ("TOYO" or the "Company"), a solar manufacturing company, today announced that it has entered into definitive agreements for the issuance and sale in a registered direct offering of an aggregate of 4,545,456 its ordinary shares and warrants to purchase up to 4,545,456 of its ordinary shares at a combined purchase price of $11.00 per share and associated warrant. The warrants will have an exercise price of $13.20 per share, will be exercisable immediately upon issuance and will expire five years thereafter. The closing of the offering is expected to occur on or about June 25, 2026, subject to the satisfaction of customary closing conditions.

Roth Capital Partners and H.C. Wainwright & Co. are acting as the exclusive co-placement agents for the offering.

The aggregate gross proceeds to the Company from the offering are expected to be approximately $50 million, before deducting the placement agent fees and other offering expenses payable by the Company.