New York, June 16, 2026, 16:20 EDT
- T1 Energy ended the session at $8.63, slipping roughly 3.3%. The stock ranged from $8.27 to $8.99.
- Shareholders plan to vote Wednesday on a proposal that would raise authorized common stock to 1 billion shares, doubling the current amount.
- The KORE Power deal and G2_Austin funding needs are keeping dilution risk and execution concerns front and center for the company.
T1 Energy Inc. shares dropped Tuesday. The solar and battery supply-chain firm lost ground heading into the close, ahead of Wednesday’s shareholder vote on raising its authorized common stock.
Shares on the New York Stock Exchange closed at $8.625, off 29.5 cents, or 3.3%. The stock touched a high of $8.99 and dropped to $8.27. Volume was around 31.6 million shares.
T1’s annual meeting comes up Wednesday at noon Eastern, with online voting set to end at 11:59 p.m. Eastern on Tuesday. One of the items on the ballot would take authorized common shares to 1 billion from 500 million if approved. That could let the company issue more stock, but holders could end up with a smaller percentage if new shares go out, raising dilution concerns.
T1 is moving ahead with plans to buy KORE Power, which makes battery energy storage systems and software, in a deal valuing KORE at about $32 million. Battery energy storage systems, or BESS, hold power to use later, and are tied to grids and data centers. The company expects the deal to wrap up in the second quarter, pending typical conditions and a nod from KORE shareholders.
KORE will get part of its payment in T1 common stock, according to a June 8 filing. That includes about $9.6 million at closing, possible equity earn-outs, and maybe more shares depending on a receivable. The share count will use a 10-day volume-weighted average price.
T1 Chairman and CEO Dan Barcelo said this month that the company is “excited to welcome the NRI team to T1.” KORE Power CEO Jay Bellows said the deal could give customers what he called a “one-stop solution for generation, storage, system design, and ongoing operations.” T1 Energy Inc.
Investors are eyeing the funding of G2_Austin, T1’s solar cell plant now in the works. T1 said in May the first phase, 2.1 gigawatts, was moving forward as planned. First cell output is set for the fourth quarter of 2026. The company also said it still needs about $225 million to cover the rest of the Phase 1 budget after boosting a convertible-note sale. These notes can be swapped for shares under certain terms.
Barcelo said in the T1 results for May that the company was working on “hitting key construction milestones” and “targeting a comprehensive financing package” for G2_Austin. T1 posted $3.9 million in net income from continuing operations and $9.1 million of adjusted EBITDA for the first quarter. Net loss to common stockholders came to $21.4 million. EBITDA, or earnings before interest, tax, depreciation and amortization, leaves out some expenses. T1 Energy Inc.
The wider solar sector struggled too. First Solar slid roughly 3.3%. Canadian Solar lost around 1.2%. T1’s drop kept pace with the losses in some U.S.-listed solar names.
But the risks here are tied to the company. T1 said its risks to investors are building on schedule and budget, raising enough money, concentrated suppliers, tariffs, tax credit rules, and getting the KORE deal done. If the share authorization vote doesn’t go well, financing costs go up or G2_Austin gets delayed, the recent run in the stock could meet tougher headwinds.
