U.S. markets were closed on Friday, July 3, 2026, for the Independence Day holiday, leaving T1 Energy Inc. (NYSE:TE) to end its trading week on Thursday. The stock closed at $8.56, down 6.75% on the day, but still managed a 4.3% gain for the shortened holiday week. Shares traded in a range of $8.14 to $10.01 during the week.
The focus for traders now shifts squarely to the company's warrant expiration on July 9. According to a June 29 SEC filing, T1 Energy's public and private warrants, each exercisable for one common share at $11.50, will expire on that date. The public warrants (TE WS) will cease trading on the New York Stock Exchange before the market opens on July 9, while common shares will continue to trade under the ticker TE.
With the stock closing at $8.56, the warrants are deeply out of the money, sitting 25.6% below the $11.50 strike price. For the warrants to become exercisable profitably, the stock would need to rally 34.3% from Thursday's close. As of March 31, the company had approximately 14.8 million public warrants and 9.8 million private warrants outstanding, totaling 24.6 million warrants. If all are exercised, T1 Energy would receive about $282.9 million in gross proceeds before expenses, and its common share count would increase by roughly 8.8% from the 279.037 million shares outstanding at the end of March.
The potential cash infusion exceeds the company's stated Phase 1 financing need for its G2_Austin facility, which is estimated at $225 million. T1 Energy reported $123.7 million in cash, cash equivalents, and restricted cash at the end of March, with $46.4 million in unrestricted cash. The company also raised $174.7 million from convertible notes issued in April.
The week's trading saw active volume, with 119 million shares exchanged over four sessions. On Monday, shares rose 8.16% to $8.88, followed by a 6.76% gain to $9.48 on Tuesday. The stock then retreated, falling 3.16% on Wednesday to $9.18 and dropping 6.75% on Thursday to $8.56. In comparison, the S&P 500 remained unchanged on Thursday but gained 1.8% for the week, while the Nasdaq Composite fell 0.8% on Thursday but advanced 2.1% over the week.
T1 Energy has been active in the solar and storage sector. On June 3, the company announced it would acquire KORE Power for approximately $32 million in equity, cash, and assumed debt, a deal expected to deliver positive EBITDA in 2026 and between $15 million and $20 million in EBITDA in 2027. Chairman and CEO Dan Barcelo expressed enthusiasm for welcoming the NRI team, while KORE Power CEO Jay Bellows highlighted the combined offering as a one-stop solution for generation, storage, system design, and operations.
Additionally, on June 17, T1 Energy announced that its 5 GW G1_Dallas module factory received an "A" rating in Intertek CEA's bankability review. Barcelo stated that the facility was built to produce modules customers can rely on for decades. The company also noted that Phase 1 of G2_Austin is expected to bring 2.1 GW in annual capacity, with cell output set to begin in Q4 2026.
As the July 9 deadline approaches, the outcome remains uncertain. If warrants are not exercised and lapse, shareholders avoid dilution from up to 24.6 million new shares. However, T1 Energy would forgo a cash option that surpasses its Phase 1 financing requirement. With the stock closing Thursday at $8.56, $2.94 below the strike price, the next few trading sessions will be crucial for warrant holders and the company alike.
