T1 Energy Inc. has entered into a $72mn fundraising agreement through a registered direct offering to US institutional investors. The transaction includes the issuance of 22,153,850 common shares at a unit price of $3.25. The capital raise is intended to support working capital, develop new partnerships, and finance projects in energy technologies and infrastructure.
An operation aimed at supporting strategic priorities
The company stated that net proceeds will be used to accelerate investments in strategic projects, without specifying targeted geographies or technologies. T1 Energy also plans to strengthen its operational capacity with the raised capital, particularly through energy sector partnerships.
The private placement is led exclusively by financial services firm A.G.P./Alliance Global Partners. The offering is part of a universal registration statement approved by the Securities and Exchange Commission (SEC) on September 22, allowing the company to raise funds without going through a traditional public offering.
Strengthened liquidity post-transaction
Upon closing of the offering, expected around October 24 subject to customary conditions, T1 Energy’s total cash will reach approximately $155mn. This amount includes $102mn in unrestricted cash, providing the company with enhanced flexibility for short- and medium-term initiatives.
The issuance comes amid increasing pressure on energy companies to diversify funding sources while consolidating financial structures. T1 Energy thus joins a wave of listed firms opting for direct placements to optimise fundraising timelines and reduce exposure to volatile secondary markets.
