NEW YORK, July 5, 2026, 17:05 EDT
- T1 finished the shortened U.S. trading week with gains, although most of its early-week surge faded in the last two days.
- The July 9 expiry on 24.6 million warrants puts dilution in focus over any price gains.
- G2_Austin still has to deal with funding needs, so capital structure stays in the spotlight even if the warrant overhang eases.
T1 Energy Inc. NYSE:TE finished the short U.S. trading week up 4.3%. The stock closed Tuesday at $8.56, higher than $8.21 at last Wednesday’s close. Shares spiked to $10.08 on July 1 but then slid 9.7% in the final two sessions.
U.S. markets stayed shut Friday, July 3, for the observed Independence Day break. With today being Sunday, T1’s last close from July 2 stands as the current live figure ahead of the NYSE’s Monday core open at 9:30 a.m. ET.
| Last week | T1 Energy NYSE:TE | Market comparison |
|---|---|---|
| Stock moved +4.3% from close June 26 to close July 2 | +4.3% | S&P 500 gained 1.8% |
| Stock fell 6.75% on July 2 | -6.75% | S&P 500 was flat, Nasdaq dropped 0.8% |
| From the week’s top, shares dropped 15.1% to close | -15.1% | Dow finished July 2 at a record |
AP reported the S&P 500 was up 1.8% this week, with the Nasdaq up 2.1% and the Dow up 2.0%. Reuters, though, said the Nasdaq dropped 0.8% on July 2 after chip stocks slid.
The key number to watch this week isn’t the stock’s weekly gain. It’s $11.50—T1’s exercise price for its public and private warrants, which expire July 9. As of March 31, T1 said there were 14.8 million public warrants and 9.8 million private warrants outstanding. The TE WS warrant line is set to stop trading before the July 9 open. The common stock will still trade under TE.
| Warrant math | Figure |
|---|---|
| T1 closed July 2 at $8.56 | $8.56 |
| Warrants can be exercised at | $11.50 |
| That’s a 34.3% premium to close | 34.3% |
| There are 14.8 million public warrants | 14.8 million |
| Private warrants on record | 9.8 million |
| All warrants together | 24.6 million |
| Warrants equal 8.8% of March 31 shares | 8.8% of March 31 common shares |
| Company would get $282.9 million if fully exercised | $282.9 million |
T1 reported 279.037 million common shares outstanding as of March 31. The company listed $46.4 million in unrestricted cash and $123.7 million including cash, cash equivalents, and restricted cash. After raising money with convertible notes in April, it estimated a $225 million financing need remaining on Phase 1 of G2_Austin.
The warrant expiry is key. If shares stay under $11.50 by expiry, a 24.6 million-share overhang goes away. That doesn’t handle G2 funding. Still, it removes one possible dilution risk for now, even as the company needs cash for its big solar-cell expansion.
T1 investors OK’d a June move to double authorized common stock to 1 billion from 500 million. The vote doesn’t guarantee new shares get issued, but lets the company issue more equity if needed.
Dan Barcelo, T1’s chairman and CEO, said after the annual meeting that “T1 is in a foundational stage.” He said the company is focused on becoming “a domestic, vertically integrated U.S. solar leader.” T1 Energy Inc.
The operating case remains linked to G1_Dallas and G2_Austin. T1 said Intertek CEA gave G1_Dallas an “A” grade in its bankability assessment. Phase 1 of G2_Austin is set to provide 2.1 GW annual capacity, and the company expects solar-cell production to begin in the fourth quarter of 2026. T1 Energy Inc.
T1’s battery-storage plans are in play as well. In June, the company agreed to buy KORE Power for about $32 million in a mix of equity, cash, and assumed debt. T1 said it sees the deal adding positive EBITDA in 2026, with $15 million to $20 million more EBITDA expected in 2027. KORE Power CEO Jay Bellows said the deal would give customers a “one-stop solution for generation, storage, system design, and ongoing operations.” T1 Energy Inc.
The common stock is set to open again Monday, with the warrant expiration coming up in three trading days.
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