T1 Energy Announces Pricing of $160 Million Convertible Notes Offering
T1 Energy announced the pricing of its previously announced underwritten public offering of $160.0 million aggregate principal amount of its 4.00% convertible senior notes due 2031. The Offering was upsized from the previously announced $125.0 million aggregate principal amount of Convertible Notes. The Company expects to use the net proceeds from the Offering for (i) construction and development of infrastructure and purchase of production line equipment relating to Phase 1 of its G2_Austin solar cell fab with 2.1 GW of capacity and (ii) general corporate purposes. The Company is targeting a larger financing solution, that includes a significant debt component, to fund the remaining balance of capital expenditures for Phase 1 of G2_Austin. The initial conversion rate is 146.9724 shares of the Company's common stock per $1,000 principal amount of the Convertible Notes, which is equivalent to an initial conversion price of approximately $6.80 per share of common stock and represents a conversion premium of approximately 40% above the last reported sale price of $4.86 per share of the Company's common stock on The New York Stock Exchange on April 14, 2026.
