NEW YORK, July 6, 2026, 19:04 (EDT)
- T1 Energy Inc. NYSE:TE closed at $8.65 on Monday, gaining 1.0%. Shares traded between $8.37 and $9.295 during the session.
- The stock is $2.85 under the $11.50 exercise price on T1 warrants, which expire July 9.
- Six directors logged July 2 RSU grants in filings posted July 6. The forms show 146,850 RSUs awarded, with a value of roughly $1.3 million based on Monday’s closing price.
T1 Energy Inc. NYSE:TE closed at $8.65 on Monday, up 1.0%. But the main focus is the gap to the $11.50 warrant strike. Shares have to jump 32.9% from here to hit the exercise price before warrants expire this Thursday.
T1 said in a June 29 filing it had around 14.8 million public warrants and 9.8 million private warrants outstanding at March 31. The public warrants are set to stop trading on the New York Stock Exchange before the open on July 9. T1’s common stock keeps trading under TE.
The numbers are key here. If holders exercised all 24.6 million warrants for cash, T1 would net around $282.9 million and issue new shares equal to about 8.8% of the 279.0 million shares outstanding as of March 31. At Monday’s closing price, exercising for cash costs more than buying in the market.
The expiry sets up a clearer near-term test than how the stock traded today. If the warrants lapse, it would take out a big warrant overhang. It also means one less potential cash source as T1 looks to fund G2_Austin, planned as a solar cell factory outside Austin. In May, the company said Phase 1 funding still needed about $225 million after the April convertible note deal. T1 reported $46.4 million in unrestricted cash at the end of March.
T1 stuck with its 2026 operating target for G1_Dallas, aiming for 3.1 GW to 4.2 GW of output, and said it’s set up to hit the upper end. The company also said Phase 1 at G2_Austin should bring another 2.1 GW of yearly capacity, with cell production slated to start in the fourth quarter.
CEO Dan Barcelo said in May the company aimed for a full financing package for G2_Austin. In June, after Intertek CEA gave a bankability review for G1_Dallas, Barcelo called the rating a “meaningful independent confirmation” for what T1 was building in Texas. T1 Energy Inc.
| Monday price check | Latest price | Change | Intraday range | Volume |
|---|---|---|---|---|
| T1 Energy Inc. NYSE:TE | $8.65 | up 1.0% | $8.37 to $9.295 | 22.0 mln |
| First Solar Inc. NASDAQ:FSLR | $233.06 | gained 3.7% | $224.57 to $238.80 | 1.7 mln |
| SolarEdge Technologies Inc. NASDAQ:SEDG | $56.91 | added 8.8% | $51.43 to $58.35 | 2.8 mln |
| Invesco Solar ETF (NYSEARCA:TAN) | $57.54 | rose 2.3% | $55.50 to $58.50 | 0.4 mln |
| SPDR S&P 500 ETF Trust NYSEARCA:SPY | $751.28 | up 0.8% | $747.40 to $752.33 | 50.6 mln |
The stock didn’t keep pace with the rest of the solar names in its one-day gain. The move also kept the warrant strike price above where most near-term consensus targets sit, based on public aggregator data.
| Forecast or target | Source figure | Read-through at $8.65 |
|---|---|---|
| MarketBeat 12-month average target | $9.13; high $16; low $7 | Average target comes in 5.5% above the last price on Monday, still under the warrant strike. |
| Investing.com 12-month average target | $10.071; high $16; low $8 | Average target is 16.4% over Monday’s last price, but still does not reach the warrant strike. |
| Benzinga consensus target | $9.21; high $16; low $7 | Consensus target comes in 6.5% higher than Monday’s last close. |
| T1 2026 G1_Dallas production guide | 3.1 GW to 4.2 GW | Company says it is tracking toward the high end. |
| G2_Austin Phase 1 capacity plan | 2.1 GW annually | First cell output now targeted for Q4 2026. |
Board members picked up new equity awards. Jessica Wirth Strine, Balazs Peter Matrai, David J. Manners, Daniel Steingart and W. Richard Anderson each got 22,695 RSUs. Robert O. Hammond was granted 33,375 RSUs. The shares vest on the earlier of the first anniversary of the July 2 grant or T1’s 2027 annual meeting, as set out in the filings.
The director grants are tiny compared to the warrant issue. They make up just 0.05% of the March 31 common shares. The warrants, though, could become nearly 170 times more shares than that.
T1 got another technical boost after its last index move. S&P Capital IQ data seen on MarketScreener said T1 joined Russell growth indexes last week, including the Russell 2000 Growth and Russell 2500 Growth, and came out of several value indexes.
T1 is looking past just solar modules. The company agreed in June to buy KORE Power for around $32 million enterprise value, saying it expects the deal to bring positive EBITDA in 2026 and boost EBITDA by $15 million to $20 million in 2027. KORE Power CEO Jay Bellows said the combined business should offer a “one-stop solution” across generation, storage and operations. T1 Energy Inc.
