T1 Energy Shares Rise on Pricing of Upsized Convertible Note

Dow Jones

Apr 15

By Elias Schisgall

Shares of T1 Energy rose after the company said it would sell $160 million worth of convertible notes through an underwritten public offering to fund its solar cell project in Austin.

Shares were up 5.7% to $5.14 as of midday Wednesday. The stock has fallen 25% this year.

T1 Energy said late Tuesday that it expects to net $151.6 million from the offering, which it will use to fund the first phase of construction of its G2_Austin solar cell fab, which is expected to have 2.1 gigawatts of capacity. It is also seeking a larger financing solution with a significant debt component to fund the rest of the project.

The notes are 4% convertible senior notes due 2031. The underwriters have a 30-day option to buy an additional $24 million worth of notes to cover over-allotments.

On Tuesday morning, T1 Energy first announced the offering, initially planning to sell $125 million worth of notes. Shares slid pre-market on Tuesday following the announcement.

The offering is expected to close on Friday.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 15, 2026 11:44 ET (15:44 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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