T1 Energy Inc. announced the pricing of $140.0 million convertible senior notes due 2030 and 28,282,830 shares of common stock.
Net proceeds from the offerings are estimated to be around $264.3 million after expenses, with additional options granted to underwriters.
The offerings are expected to close on separate dates in December 2025, subject to closing conditions.
Offering Details
$140.0 million Convertible Notes and 28,282,830 shares of Common Stock priced at $4.95 per share.
Net Proceeds
Estimated net proceeds from the offerings are approximately $264.3 million after expenses.
Convertible Notes Terms
Interest payable semi-annually, mature on December 1, 2030, with conversion options before and after September 1, 2030.
Redemption Terms
Convertible Notes not redeemable before December 6, 2028, with redemption options thereafter based on stock price conditions.
Use of Proceeds
Intended use of net proceeds for compliance with applicable foreign entities of concern provisions.
- The successful pricing of the offerings indicates investor confidence in T1 Energy's financial prospects.
- The availability of convertible notes provides flexibility for investors, and the terms of the offerings reflect market conditions.
- The hedge against fundamental changes in the indenture enhances investor protection and may influence conversion decisions.
T1 Energy's strategic move to price public offerings shows a proactive approach to secure funding and address compliance requirements, setting a positive trajectory for future growth and investor relations.