NEW YORK, July 3, 2026, 18:05 EDT
- U.S. markets were closed Friday for Independence Day. T1 Energy’s last session was Thursday.
- T1 Energy Inc. NYSE:TE finished at $8.56 on July 2, dropping 6.75%. Shares were still up 4.3% for the shortened holiday week.
- The stock needs to gain 34.3% from Thursday’s close to hit the $11.50 warrant exercise price before the July 9 expiration.
- If all 24.6 million warrants are exercised, T1 would get around $282.9 million in cash and its March 31 common share total could climb by about 8.8%.
U.S. markets stayed shut Friday, with the New York Stock Exchange counting July 3 as the 2026 Independence Day holiday. That left T1 Energy Inc. NYSE:TE stuck in a four-day trading week and no Friday session. The last trade came at Thursday’s close, $8.56, down 6.75%. Shares swung between $8.14 and $10.01 intraday.
The simple setup for next week isn’t about the June battery-storage agreement or the recent bankability rating. Traders are watching the warrant expiration. In a June 29 SEC filing, T1 said its public and private warrants, each good for one common share at $11.50, will expire July 9. The TE WS public warrants stop trading on the NYSE before the market opens July 9. Common shares stay listed as TE.
This matters since the warrants are out of the money. T1 finished Thursday 25.6% under the strike, meaning the stock would have to climb 34.3% to hit $11.50. As of March 31, the company had about 14.8 million public warrants and 9.8 million private warrants still outstanding. If all are exercised, it would raise around $282.9 million in gross proceeds before expenses and lead to 24.6 million more shares.
| Warrant item | Figure | Market read-through |
|---|---|---|
| Exercise price | $11.50 | That’s 34.3% above where shares closed Thursday |
| Public warrants | 14.8 million | Set to stop trading before the open on July 9 |
| Private warrants | 9.8 million | They expire on July 9 too |
| Full-exercise cash | $282.9 million | Tops T1’s listed $225 million Phase 1 funding need |
| Possible new shares | 24.6 million | Comes to about 8.8% of the March 31 share count |
T1 reported 279.037 million common shares outstanding as of March 31 in its Q1 results. The company said it raised $174.7 million from April convertible notes, which puts the estimated Phase 1 financing need for G2_Austin at about $225 million. T1 had $123.7 million in cash, cash equivalents and restricted cash at the end of March, with $46.4 million in unrestricted cash.
So expiry can go either way. If the warrants aren’t exercised and lapse, shareholders skip dilution from as many as 24.6 million new shares. But T1 misses out on a cash option that’s actually larger than the Phase 1 financing number it gave in May.
TE ended the week up 4.3%, closing Thursday at $8.56 after starting at $8.21 on June 26. Shares picked up ground Monday and Tuesday, then slipped the next two days. Volume stayed active, with 119 million shares traded in four sessions, according to daily StockAnalysis numbers.
| Date | Close | Daily move | Volume |
|---|---|---|---|
| Jun. 29 | $8.88 | up 8.16% | 23.37 mln |
| Jun. 30 | $9.48 | up 6.76% | 29.25 mln |
| Jul. 1 | $9.18 | down 3.16% | 30.11 mln |
| Jul. 2 | $8.56 | down 6.75% | 36.32 mln |
T1 ended the short week still ahead, but it trailed the wider market on Thursday. The S&P 500 was unchanged Thursday and gained 1.8% for the week. The Nasdaq Composite dropped 0.8% Thursday and advanced 2.1% over the week, according to Reuters.
| Instrument | Thursday move | Week move |
|---|---|---|
| T1 Energy | dropped 6.75% | up 4.3% |
| S&P 500 | unchanged | added 1.8% |
| Nasdaq Composite | fell 0.8% | gained 2.1% |
T1 faces its next stock test as it tries to hold its U.S. solar and storage story together. The company said on June 3 it will buy KORE Power for about $32 million in equity, cash, and assumed debt. T1 expects the deal to deliver positive EBITDA in 2026 and between $15 million and $20 million of EBITDA in 2027. “We’re excited to welcome the NRI team to T1,” Chairman and CEO Dan Barcelo said that day. KORE Power CEO Jay Bellows said the deal would let customers get “a one-stop solution for generation, storage, system design, and ongoing operations.” GlobeNewswire
T1 said on June 17 that its 5 GW G1_Dallas module factory got an “A” in Intertek CEA’s bankability review. Barcelo said, “We built G1_Dallas to produce modules that customers can rely on for decades to come.” The same statement said Phase 1 of G2_Austin should bring 2.1 GW in yearly capacity, with cell output set to begin in Q4 2026. GlobeNewswire
The tape was mixed in the last session before the holiday. Reuters said the Dow gained 1.1% for a record finish. The S&P 500 closed flat. The Nasdaq dropped 0.8% as chip stocks slid. “The soft jobs report doesn’t mean the fear of inflation is over,” Adam Sarhan, CEO at 50 Park Investments, told Reuters. “It just takes the pressure off the Fed to raise rates in the short term.” Reuters
T1’s week looks set to turn on a handful of things. There’s Monday’s reopening, the $11.50 strike, and warrant expiry on July 9. Shares finished Thursday $2.94 under the strike.
