T1 Energy Inc. (NYSE: TE) announced a proposed public offering of $125 million in convertible senior notes due 2031. The company also plans to grant underwriters a 30-day option to purchase an additional $18.75 million in notes to cover over-allotments.

The Austin-based energy solutions provider intends to use net proceeds for construction and development of infrastructure and production line equipment for Phase 1 of its G2_Austin solar cell manufacturing facility, which will have 2.1 GW of capacity. Additional funds will go toward general corporate purposes.

T1 Energy stated it is targeting a larger financing solution that includes a significant debt component to fund the remaining capital expenditures for the G2_Austin Phase 1 project. The company noted the proposed offering is subject to market and other conditions, with no assurance regarding completion, timing, or final terms.

Santander and J.P. Morgan are serving as joint bookrunning managers for the offering. The company has filed a registration statement and preliminary prospectus supplement with the Securities and Exchange Commission.

T1 Energy describes itself as building an integrated U.S. supply chain for solar and batteries. In December 2024, the company completed what it called a transformative transaction, positioning itself in solar manufacturing with complementary solar and battery storage operations. The company operates primarily in the U.S. with expansion plans in America and is exploring opportunities across its European asset portfolio.

The information is based on a company press release statement.