Solar co T1 Energy rises after upsized $160 mln convertible deal

T1 Energy

15/04/2026 13:00

** Solar solutions provider T1 Energy's TE.N shares up 2% before the bell to $4.96 after raising more capital than planned

** Austin, Texas-based TE late Tues announced pricing public offering of $160 mln 4% 5-yr convertible bonds

** Initial conversion price of $6.80 represents 40% premium to stock's last close of $4.86

** TE shares fell 4.9% on Tues after co announced $125 mln offering for construction/development of infrastructure relating to its Austin facility, and for general corporate purposes

** Santander and JP Morgan lead bookrunners for offering, joined by BTIG, HSBC and Societe Generale as bookrunners

** Through Tues, TE stock down 27% YTD and off 50% from 1-yr intraday high of $9.78 hit on Jan 28

** 1 analyst rates the stock "strong buy", the other 4 rate "buy"; median PT $8.50, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))