T1 Energy Inc. has entered into agreements for a private offering of $120.0 million in 4.75% Convertible Senior Notes due 2031. The company intends to use the net proceeds to finance the construction and development of its G2_Austin solar cell manufacturing facility and for general corporate purposes.
Key Details
- Offering Details: $120.0 million in gross proceeds from the sale of 4.75% Convertible Senior Notes due August 1, 2031.
- Use of Proceeds: Funds will support the Phase 1 construction of the G2_Austin solar cell fab and general corporate needs, acting as a bridge to a larger financing solution.
- Conversion Terms: The notes feature an initial conversion price of approximately $4.46 per share, a 20% premium over the common stock price on July 29, 2026.
- Timeline: The offering is expected to close on July 31, 2026, subject to customary conditions.