T1 Energy prices USD 120 million 4.75% convertible senior notes due 2031 in private placement
TE•Private placement terms and use of proceeds
T1 Energy entered note purchase agreements for a private placement of USD 120 million 4.75% convertible senior notes due 2031.
Proceeds are earmarked for Phase 1 infrastructure and production-line equipment at its G2_Austin solar cell fab, with the remaining funds for general corporate purposes.
The notes mature Aug. 1, 2031, and interest will be paid on Feb. 1 and Aug. 1 starting Feb. 1, 2027.
The initial conversion price is about USD 4.46 per share, a roughly 20% premium to the July 29 close of USD 3.72.
The issuer call option begins Aug. 6, 2029, subject to a 130% stock-price trigger versus the conversion price.
