T1 Energy Sells $50M Convertible Senior Notes
T1 Energy Inc. has entered into a note purchase agreement to sell an additional $50.0 million in aggregate principal amount of its 4.75% Convertible Senior notes due 2031. The closing is expected on September 30, 2026. The gross proceeds are expected to be approximately $50.4 million. The company intends to use the net proceeds for the construction and development of infrastructure and equipment for Phase 1 of its G2_Austin solar cell fab, as well as for general corporate purposes. These proceeds are intended as a bridge to a comprehensive financing solution for the G2_Austin project. The additional notes will be treated as a single series with the existing notes, bringing the total outstanding principal amount to $170.0 million.
Key Highlights
- T1 Energy Inc. entered into a note purchase agreement for $50.0 million in convertible senior notes.
- The notes bear a 4.75% interest rate and mature on August 1, 2031.
- The aggregate principal amount of convertible senior notes will increase to $170.0 million upon closing.
- Proceeds will be used for infrastructure and equipment for Phase 1 of G2_Austin solar cell fab and general corporate purposes.
- The company expects to use net proceeds as a bridge to a comprehensive financing solution for G2_Austin Phase 1.
- The initial conversion price is approximately $4.46 per share of common stock.
Price Impact
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