T1 Energy raises $122M via registered direct and convertible preferred for G2_Austin solar cell plant

T1 Energy Inc.

$72M registered direct offering of 22.15M shares at $3.25/share, closing expected Oct 24, 2025.
$50M convertible preferred issued to Encompass Capital Advisors LLC, closing shortly thereafter.
Proceeds fund first 2.1 GW phase of G2_Austin PV solar cell fab (total capex $400-425M).
Construction expected to start before year-end 2025; contractor and vendor selection complete.
Net proceeds also for working capital, strategic investments, and infrastructure projects.

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