T1 Energy Inc. Amends Q1 2025 10-Q Filing

TL;DR

T1 Energy amended its Q1 2025 10-Q. Updated financials are in.

AI Summary

T1 Energy Inc. filed an amended 10-Q for the period ending March 31, 2025. The filing, dated August 18, 2025, provides updated financial information. The company, formerly known as FREYR Battery, Inc. /DE/, is incorporated in Delaware and operates in the Semiconductors & Related Devices sector.

Why It Matters

This amended filing provides updated financial disclosures for T1 Energy Inc., which is crucial for investors and stakeholders to assess the company's current financial health and performance.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous report and does not introduce new material risks.

Key Players & Entities

• T1 Energy Inc. (company) — Filer
• FREYR Battery, Inc. /DE/ (company) — Former company name
• 20250331 (date) — Period of report
• 20250818 (date) — Filing date

FAQ

Key Financial Figures

• $11.50 — of Common Stock at an exercise price of $11.50 TE WS The New York Stock Exchange I

Filing Documents

• t1-20250331.htm (10-Q/A) — 867KB
• ex311q12025.htm (EX-31.1) — 12KB
• ex312q12025.htm (EX-31.2) — 12KB
• ex321q12025.htm (EX-32.1) — 6KB
• ex322q12025.htm (EX-32.2) — 6KB
• t1-20250331_g1.jpg (GRAPHIC) — 2KB
• 0001992243-25-000029.txt ( ) — 5863KB
• t1-20250331.xsd (EX-101.SCH) — 39KB
• t1-20250331_cal.xml (EX-101.CAL) — 95KB
• t1-20250331_def.xml (EX-101.DEF) — 252KB
• t1-20250331_lab.xml (EX-101.LAB) — 585KB
• t1-20250331_pre.xml (EX-101.PRE) — 439KB
• t1-20250331_htm.xml (XML) — 654KB

- Financial Information

Part I - Financial Information

Financial Statements - Unaudited

Item 1. Financial Statements - Unaudited

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Controls and Procedures

Item 4. Controls and Procedures

- Other Information

Part II - Other Information

Risk Factors

Item 1A. Risk Factors

Exhibits

Item 6. Exhibits ii In accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), Item 6 of Part II of the Original Form 10-Q is being amended and restated solely to include as exhibits the new certifications of our principal executive officer and principal financial officer required by Rule 13a-14(a) under the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350). This Amendment also includes this Explanatory Note and an updated signature page and updates the section titled " Cautionary Notes Regarding Forward-Looking Statements ". Investors should rely only on the financial information and other disclosures regarding the restated period in this Amendment or in future filings with the SEC (as applicable), and not on any previously issued or filed reports, earnings releases or similar communications relating to this period. Except as otherwise expressly noted herein, this Amendment does not amend, modify or update any other information set forth in the Original Form 10-Q. Furthermore, this Amendment does not change any previously reported financial results, except as necessary to reflect the restatement described herein, nor does it reflect events occurring after the filing date of the Original Form 10-Q. Information not affected by this Amendment remains unchanged and the disclosures in this Amendment are made as of the date the Original Form 10-Q was filed. Accordingly, this Amendment should be read in conjunction with our filings made with the SEC subsequent to the filing of the Original Form 10-Q, including any amendment to those filings. iii TABLE OF CONTENTS PAGE

- Financial Information

Part I - Financial Information 1 Item 1.

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 20

- Other Information

Part II - Other Information 21 Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25

Signatures

Signatures 26 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS We make forward-looking statements in this Amendment and in documents incorporated herein by reference. All statements, other than statements of present or historical fact included in or incorporated by reference in this Amendment, regarding T1 Energy Inc.'s future financial performance, as well as our strategy, system of internal control over financial reporting (including any future effectiveness or related remediation plans thereof), future liquidity requirements, financial position, long-term operating plan, estimated revenues and losses, projected costs, expected cash spending, planned capital expenditures, prospects, plans, estimates and objectives of management are forward-looking statements. When used in this Amendment, the words "anticipate", "believe", "continue", "could", "estimate", "expect", "intends", "may", "might", "plan", "possible", "potential", "predict", "project", "should", "will", "would", the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations, assumptions, hopes, beliefs, intentions, and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to our business. These forward-looking statements are based on information available as of the date of this Amendment, and current expectations, forecasts, and assumptions, and involve a number of risks and uncertainties. Accordingly, forward-looking statements in this Amendment and in any document incorporated herein by reference should not be relied upon as

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. T1 ENERGY INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) March 31, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 48,881 $ 72,641 Restricted cash 2,210 4,004 Accounts receivable trade, net - related parties 18,005 — Government grants receivable, net 14,080 687 Inventory 333,032 274,549 Advances to suppliers 164,248 164,811 Other current assets 7,908 1,569 Current assets of discontinued operations 38,312 64,909 Total current assets 626,676 583,170 Property and equipment, net 310,246 285,187 Goodwill 74,527 74,527 Intangible assets, net 270,686 281,881 Right-of-use asset under operating leases 149,570 111,081 Total assets $ 1,431,705 $ 1,335,846 LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 108,532 $ 61,708 Accrued liabilities and other 76,845 91,346 Deferred revenue 61,525 48,155 Derivative liabilities 1,556 14,905 Current portion of long-term debt 56,492 42,867 Current portion of long-term debt - related party 59,000 51,500 Payables to related parties 88,947 52,534 Current liabilities of discontinued operations 40,204 51,009 Total current liabilities 493,101 414,024 Long-term deferred revenue 30,000 32,000 Convertible note - related party 82,083 80,698 Operating lease liability 139,921 101,787 Long-term debt 170,753 188,316 Long-term debt - related party 234,829 238,896 Deferred tax liability 20,232 21,227 Other long-term liabilities 9,581 21,761 Total liabilities 1,180,500 1,098,709 Commitments and contingencies Redeemable preferred stock Convertible series A preferred stock, $ 0.01 par value, 5,000 issued and outstanding as of both March 31, 2025 and December 31, 2024 (includes accrued dividends and accretion of $ 978 and $ 87 as of March 31, 2025 and December 31, 2024, respectively) 49,266 48,375 Stockholders' equity: Common stock, $ 0.01 par value,

View Full Filing

View this 10-Q/A filing on SEC EDGAR