T1 Energy Shares Slide Premarket With Plans to Sell Convertible Notes
By Robb M. Stewart
T1 Energy's shares look set to fall sharply at the opening bell after the solar and battery storage company unveiled plans to sell $125 million worth of convertible bonds, part of the financing it is lining up for its solar cell project in Austin.
In premarket trading, its shares were 6.1% lower at $4.80. As of Monday, the shares had already fallen 24% so far this year, eating into a rally over the last 12 months.
T1 Energy plans an underwritten public offering of convertible senior notes due 2031. The company said it intends to grant the underwriters a 30-day option to buy up to an additional $18.75 million worth of the notes to cover any over-allotments in the offering.
The company said it expects to use the net proceeds from the offering for construction and development of infrastructure and the purchase of production line equipment for the first phase of its G2_Austin solar cell fab, with 2.1 gigawatts of capacity. T1 is targeting a larger financing package that includes a significant debt component to fund the remaining balance of capital expenditures for phase one of G2 Austin.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
April 14, 2026 08:25 ET (12:25 GMT)
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