T1 Energy prices USD 120 million private placement of 4.75% convertible notes due 2031
TE•Private placement pricing and terms
T1 Energy priced a private placement of USD 120 million of 4.75% convertible senior notes due 2031, slated to close July 31.
Net proceeds are earmarked for the Phase 1 buildout of the G2_Austin solar cell fab, including infrastructure, equipment, and general corporate purposes.
The initial conversion rate is set at 224 shares per USD 1,000 principal, implying an initial conversion price of about USD 4.46, a 20% premium to July 29’s close.
The notes are being offered only to qualified institutional buyers and are not registered under the Securities Act; T1 plans to register the resale of conversion shares.
