T1 Energy Announces Pricing of Concurrent Public Offerings of Convertible Senior Notes Due 2030 and Common Stock

Core Viewpoint - T1 Energy Inc. has announced the pricing of its public offerings, which include $140 million in convertible senior notes and approximately 28.3 million shares of common stock, aiming to raise net proceeds of approximately $264.3 million for various corporate purposes [1][2][8]. Offering Details - The Convertible Notes Offering was upsized from an initial $120 million to $140 million [1]. - The public offering price for the common stock is set at $4.95 per share [1]. - The expected closing dates for the offerings are December 15, 2025, for the common stock and December 16, 2025, for the convertible notes [3]. Financial Structure - The Convertible Notes will have a 5.25% interest rate, payable semi-annually starting June 1, 2026, and will mature on December 1, 2030 [4]. - The initial conversion rate for the Convertible Notes is 144.3001 shares per $1,000 principal amount, equating to a conversion price of approximately $6.93 per share, representing a 40% premium over the common stock offering price [5]. Use of Proceeds - The net proceeds from the offerings will be utilized for compliance with foreign entities of concern provisions, working capital, and infrastructure development for the G2_Austin facility [8]. Underwriters - Santander and J.P. Morgan are acting as joint bookrunning managers, with BTIG and Roth Capital Partners as co-managers for the offerings [9]. Company Overview - T1 Energy Inc. is focused on building an integrated U.S. supply chain for solar and battery solutions, having completed a significant transaction in December 2024 to enhance its position in the solar manufacturing sector [10].