T1 Energy Adds $50M to Convertible Notes, Total Debt Hits $170M
TE sits 74% above its 52-week low of $2.07.
Summary
T1 Energy agreed to sell an additional $50 million of its 4.75% convertible notes due 2031 to an existing shareholder, bringing total notes outstanding to $170 million. Proceeds fund Phase 1 of the G2_Austin solar cell fab. The notes are senior unsecured obligations maturing on August 1, 2031, with an initial conversion rate of 224.0143 shares per $1,000 of principal.
Updated with a Benzinga report · What changed
Updates
· Benzinga — T1 Energy shares rose 0.53% to $3.79 in Wednesday's premarket trading after the company agreed to raise an additional $50 million through a private placement of convertible senior notes.
- Note Terms — The notes are senior unsecured obligations maturing on August 1, 2031, with an initial conversion rate of 224.0143 shares per $1,000 of principal. The company may settle conversions in cash, stock, or a combination of both, and the maximum shares issuable are subject to customary anti-dilution adjustments.
- Facility Location — The G2_Austin solar cell manufacturing facility is located in Texas.
All 6 details
- The notes are senior unsecured obligations.
- The notes mature on August 1, 2031.
- The initial conversion rate is 224.0143 shares per $1,000 of principal.
- The company may settle conversions in cash, stock, or a combination of both.
- The maximum shares issuable are subject to customary anti-dilution adjustments.
- The G2_Austin solar cell manufacturing facility is located in Texas.
Key Events · Financing and Capital Events · TE
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New · · Benzinga
G2_Austin Facility Location
The G2_Austin solar cell manufacturing facility is located in Texas.
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New · · Benzinga
Premarket Share Price Movement
T1 Energy shares rose 0.53% to $3.79 in Wednesday's premarket trading after the company agreed to raise an additional $50 million through a private placement of convertible senior notes.
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Updated · · Benzinga
Additional $50M Convertible Notes Issuance
T1 Energy entered into a note purchase agreement on September 28, 2026 to sell an additional $50.0 million principal amount of its 4.75% Convertible Senior Notes due 2031 to an existing shareholder, bringing total outstanding to $170.0 million. The notes are senior unsecured obligations maturing on August 1, 2031.
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Updated · · Benzinga
Potential Dilution of Up to 13.4M Shares
The notes are convertible at an initial conversion price of approximately $4.46 per share, with a maximum of 13,440,860 shares issuable upon conversion based on the initial maximum conversion rate of 268.8172 shares per $1,000 principal. The initial conversion rate is 224.0143 shares per $1,000 of principal, and the company may settle conversions in cash, stock, or a combination of both. The maximum shares issuable are subject to customary anti-dilution adjustments.
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Proceeds Fund G2_Austin Solar Fab
Gross proceeds of approximately $50.4 million (including accrued interest from July 31, 2026) will fund construction, infrastructure, and production line equipment for Phase 1 of the G2_Austin solar cell fab, plus general corporate purposes.
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Registration Rights for Resale
The purchaser receives registration rights requiring T1 Energy to file a resale registration statement or prospectus supplement within 30 calendar days after closing, covering the maximum shares issuable upon conversion.
Analysis · TE · Manufacturing
T1 Energy is tapping the same convertible notes structure it used in July, adding $50 million in principal to fund its G2_Austin solar cell fab. The deal brings total 4.75% convertible notes outstanding to $170 million and could add up to 13.4 million shares upon conversion — meaningful dilution for existing holders. The notes are senior unsecured obligations maturing on August 1, 2031, with an initial conversion rate of 224.0143 shares per $1,000 of principal, and the company may settle conversions in cash, stock, or a combination of both. The company is bridging to a larger financing package, which signals continued capital intensity and reliance on debt markets.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.5% of the 1626 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TE was trading at $3.60 on NYSE in the Manufacturing sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $2.07 to $12.49. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.