Loan & DebtApr 14, 2026, 09:37 PM
T1 Energy Upsizes Convertible Notes Offering to $160M, Net $151.6M
AI Summary
T1 Energy Inc. announced the pricing of an upsized public offering of $160.0 million aggregate principal amount of its 4.00% convertible senior notes due 2031. The offering was increased from the previously announced $125.0 million, with estimated net proceeds of approximately $151.6 million. The company plans to use these proceeds for the construction and development of infrastructure for Phase 1 of its G2_Austin solar cell fab, which has a 2.1 GW capacity, and for general corporate purposes. The notes mature on April 15, 2031, and have an initial conversion price of approximately $6.80 per share, representing a 40% premium over the last reported stock price.
Key Highlights
- Priced $160.0M 4.00% convertible senior notes due 2031.
- Offering upsized from previously announced $125.0M.
- Estimated net proceeds of $151.6M after expenses.
- Proceeds to fund G2_Austin solar cell fab (2.1 GW capacity).
- Initial conversion price $6.80/share, 40% premium.