FREYR closes acquisition of Trina Solar US manufacturing assets; issues $100M cash, notes, and shares

T1 Energy Inc.

Acquired Trina Solar US Manufacturing entities for $100M cash, $50M loan repayment, 15.4M shares, $150M 1% note, and $80M 7% convertible note due 5 years.
Convertible note can convert into up to 30.4M FREY shares upon CFIUS and stockholder approval.
Issued $50M preferred stock (5M shares) to Encompass Capital Advisors; 6% cash interest, convertible at $2.50.
Mingxing Lin appointed to board per Cooperation Agreement; Seller may designate up to 2 directors.
TUM 1's $235M credit facility amended; FREYR guarantees up to $125M equity contributions for solar module facility.

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