TOYO Co., Ltd. Acquires Remaining 24.99% Interest in TOYO Solar LLC

TOYO Co., Ltd (Nasdaq: TOYO) announced it acquired the remaining 24.99% membership interest in its U.S. unit, TOYO Solar LLC, making the subsidiary wholly owned as of December 8, 2025.

Rhea-AI Summary

TOYO Co., Ltd (Nasdaq: TOYO) announced it acquired the remaining 24.99% membership interest in its U.S. unit, TOYO Solar LLC, making the subsidiary wholly owned as of December 8, 2025.

The company said this follows its strategic expansion into U.S. manufacturing and aims to strengthen its presence in the American solar supply chain. TOYO Solar LLC is advancing development of a 2.5GW solar module manufacturing facility in Texas. Management framed full ownership as strengthening operational control and aligning long-term interests for U.S.-made solar production.

Positive

• Acquired remaining 24.99% interest to attain full ownership
• Full ownership strengthens operational control over U.S. operations
• 2.5GW solar module manufacturing facility advancing in Texas

Negative

• None.

Argus Dec 8 session

-5.07% close to close Open Argus

Details

News Market Reaction – TOYO

In the Dec 8 session, TOYO declined 5.07%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -5.1% in the session following this news. A negative reaction despite the control-en...

Analysis

The stock moved -5.1% in the session following this news. A negative reaction despite the control-enhancing acquisition would fit prior patterns where positive strategic news preceded declines, such as the VSUN brand deal that saw a -12.94% move. The market may be cautious about integration and capital needs tied to the 2.5 GW Texas project and broader expansion plans. An active Form F-3 shelf also provides a mechanism for future offerings, which some investors may treat as an overhang.

Key Figures

Remaining stake acquired: 24.99% membership interest Texas facility scale: 2.5 GW 1H 2025 revenue: $139 million +5 more

Remaining stake acquired

24.99% membership interest

Interest in TOYO Solar LLC, making it a wholly owned subsidiary

Texas facility scale

2.5 GW

Planned solar module manufacturing capacity in Texas

1H 2025 revenue

$139 million

First half 2025 financial results

Revenue growth

0.7%

Year-over-year revenue growth in first half 2025

Non-GAAP Adjusted EBITDA

$23 million

First half 2025, down from prior year

Houston module plant

1 GW

Annual design capacity of Houston solar module facility

Production credit

$0.07 per watt

Section 45X U.S. tax incentives through 2030

Shelf registration size

$200,000,000

Maximum securities under Form F-3 shelf

Historical Context

5 past events · Latest: Nov 03

5 events

1. Nov 03

   European partnership

   24h Move

   -3.1%

   Strategic partnership with Voltec to supply low‑carbon solar cells in Europe.

2. Oct 14

   Facility launch

   24h Move

   +6.0%

   Houston module facility begins 1 GW commercial operations with strong demand.

3. Sep 08

   Earnings update

   24h Move

   -5.1%

   First‑half 2025 results with slight growth, lower EBITDA, raised outlook.

4. Sep 04

   Brand acquisition

   24h Move

   -12.9%

   Acquisition of VSUN brand to strengthen U.S. utility‑scale solar presence.

5. Sep 03

   Investor events

   24h Move

   +6.6%

   Participation in investment and clean energy conferences to engage investors.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Jargon Translator

form f-3

Form F-3 is a U.S. securities filing that lets eligible foreign companies pre-register and then quickly sell shares or other securities to raise money, because they already meet ongoing reporting and size tests. For investors it signals that the company is up-to-date with regulatory disclosure and has an efficient way to issue new securities — similar to a pre-approved credit line — which can mean faster capital raises but also potential dilution of existing holdings.

schedule 13g

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Shelf registration

Shelf registration is when a company gets permission ahead of time to sell new stocks or bonds over a period of time instead of all at once. It matters to investors because it lets a company raise money quickly when needed, but it can also change the value of existing shares if many new ones are sold.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TOKYO, Dec. 8, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF),  ("TOYO" or the "Company"), a solar solution company, today announced that it has acquired the remaining 24.99% membership interest in its U.S. subsidiary, TOYO Solar LLC, making it a wholly owned subsidiary of the Company.

This transaction follows TOYO's recent strategic expansion into U.S.-based manufacturing and underscores the Company's commitment to strengthening its presence in the American solar supply chain. TOYO Solar LLC is currently advancing the development of a 2.5GW solar module manufacturing facility in Texas.

Junsei Ryu, Chairman and CEO of TOYO, commented: "This acquisition marks a key milestone in our U.S. growth strategy. Full ownership of TOYO Solar LLC strengthens our operational control, aligns our long-term interests, and reinforces our commitment to delivering American-made solar solutions at scale."

About TOYO Co., Ltd.

TOYO is a solar solutions company committed to becoming a full-service solar solutions provider in the global market, integrating upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "look forward to," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled "Risk Factors" in TOYO's annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in TOYO's subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. TOYO specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

Contact Information:

For TOYO Co., Ltd.
IR@toyo-solar.com 

Crocker Coulson
Email: crocker.coulson@aummedia.org
Tel: (646) 652-7185

View original content:https://www.prnewswire.com/news-releases/toyo-co-ltd-acquires-remaining-24-99-interest-in-toyo-solar-llc-302635211.html

SOURCE TOYO Co., Ltd

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did TOYO (Nasdaq: TOYO) announce on December 8, 2025 about TOYO Solar LLC?

TOYO announced it acquired the remaining 24.99% membership interest in TOYO Solar LLC, making it a wholly owned subsidiary.

How large is the TOYO Solar LLC manufacturing facility mentioned in the TOYO announcement?

TOYO Solar LLC is advancing development of a 2.5GW solar module manufacturing facility in Texas.

Why did TOYO say it bought the remaining interest in TOYO Solar LLC?

The company said full ownership strengthens operational control, aligns long-term interests, and reinforces its U.S. manufacturing commitment.

Does the TOYO press release state TOYO Solar LLC is now wholly owned?

Yes. The announcement confirms TOYO Solar LLC is now a wholly owned subsidiary of TOYO.

What is the strategic significance of TOYO's acquisition of the 24.99% stake in TOYO Solar LLC?

TOYO framed the acquisition as part of its U.S. expansion to strengthen presence in the American solar supply chain and support domestic manufacturing.