T1 Energy slides after unveiling planned $260 million capital raise

T1 Energy

10/12/2025 22:37

** Solar company T1 Energy's TE.N shares slide 10.6% to $5.50 in extended trading

** TE announces proposed public offerings of $120 million of convertible bonds due 2030 and $140 million worth of shares

** Santander and J.P. Morgan are joint bookrunning managers for the offerings

** Proceeds will be used to become compliant with provisions of the One Big Beautiful Bill Act, debt repayment, and construction of infrastructure relating to its Austin facility, among other purposes

** TE has 212.4 million outstanding shares for $1.3 billion market cap, per LSEG data

** Last week, TE disclosed it has received grand jury subpoenas from the U.S. Department of Justice

** All five brokerages covering the stock rate it "buy" or higher; median PT $7 - data compiled by LSEG

** As of last close, TE stock up 138.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))