AcquisitionsJun 8, 2026, 06:16 AM
T1 Energy to Acquire KORE Power for $32M; $9.6M in Stock at Close
AI Summary
T1 Energy Inc. announced its definitive agreement to acquire KORE Power, Inc., an engineering-focused BESS and software solutions provider. The transaction has an enterprise value of approximately $32 million, comprising equity, cash, and assumed debt. Approximately $9.6 million of the closing consideration will be paid in T1 Energy common stock. The deal also includes a potential earn-out of $9.6 million for fiscal years 2026 and 2027, plus an additional $5.5 million, both payable in common stock, contingent on performance metrics and a receivable payment. The shares will be issued under a Section 4(a)(2) exemption.
Key Highlights
- T1 Energy to acquire KORE Power, Inc. for approximately $32 million enterprise value.
- Closing consideration includes approximately $9.6 million paid in T1 Energy common stock.
- Potential earn-out of $9.6 million for FY2026 and FY2027, payable in common stock.
- Additional potential $5.5 million in common stock if a certain receivable is paid to KORE.
- Shares to be issued based on a 10-trading day volume-weighted average price.
- Shares will be issued in reliance upon the exemption from registration under Section 4(a)(2).
Price Impact
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