T1 Energy Raises $120 Million via Convertible Notes for Austin Solar Fab

T1 Energy (NYSE: TE) announced a private placement of $120 million aggregate principal amount of 4.75% senior convertible notes due 2031. The notes are senior unsecured obligations, with interest payable semi‑annually starting February 1 2027 and maturing on August 1 2031. Holders may convert the notes into common stock at a rate of 224.0143 shares per $1,000 principal (approximately $4.46 per share), representing a roughly 20% premium to the July 29 2026 closing price of $3.72. The offering is expected to close on July 31 2026.

Net proceeds will be used to fund construction, infrastructure and production‑line equipment for Phase 1 of the G2_Austin solar‑cell fab in Austin, Texas, and for general corporate purposes, serving as a bridge to a larger debt‑heavy financing plan for the remainder of the project. The notes include redemption options after August 6 2029 and conversion rights beginning May 1 2031, with settlement possible in cash, stock, or a combination.