T1 Energy completed $120 million private placement of 4.75% convertible senior notes due 2031

Key Facts

Debt and credit facilities

• Gross proceeds were $120.0 million before fees and estimated offering expenses; net proceeds are intended for G2_Austin Phase 1 infrastructure and equipment and general corporate purposes.
• The filing discloses a maximum of 32,258,064 common shares issuable upon conversion, based on an initial maximum conversion rate of 268.8172 shares per $1,000 principal amount, subject to customary anti-dilution adjustments.
• The Notes were issued under a July 31, 2026 Indenture between T1 Energy and U.S. Bank Trust Company, National Association, as trustee.
• The Convertible Notes were sold in a private placement under the Section 4(a)(2) exemption.

Securities offerings and private placements

• Gross proceeds were $120.0 million before fees and estimated offering expenses.
• The initial conversion rate was 224.0143 shares per $1,000 principal amount, equivalent to an approximate $4.46 conversion price per share; the filing also states an initial maximum of 32,258,064 shares issuable upon conversion based on a 268.8172-share maximum conversion rate.
• Net proceeds are intended for G2_Austin Phase 1 infrastructure and production-line equipment and for general corporate purposes.
• The notes were sold in a Section 4(a)(2) private placement, and the Company is required to seek registration of resale of the underlying shares within 30 calendar days after closing.

Source

View the source SEC filing