T1 Energy Restates Financials, Warns Investors

TL;DR

T1 Energy (formerly FREYR Battery) says old financials are toast. Don't trust 'em.

AI Summary

T1 Energy Inc. filed an 8-K on August 18, 2025, to report that previously issued financial statements should not be relied upon. The company, formerly known as FREYR Battery, Inc. /DE/, is based in Austin, Texas, and operates in the semiconductors & related devices industry.

Why It Matters

This filing indicates potential accounting issues or errors, which could impact investor confidence and the company's stock price.

Risk Assessment

Risk Level: high — Non-reliance on previously issued financial statements is a significant red flag indicating potential accounting irregularities or material errors.

Key Players & Entities

• T1 Energy Inc. (company) — Registrant
• FREYR Battery, Inc. /DE/ (company) — Former company name
• August 18, 2025 (date) — Date of report
• Austin, Texas (location) — Company headquarters

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value TE The New York Stock Exc
• $11.50 — e Common Stock at an exercise price for $11.50 per share TE WS The New York Stock

Filing Documents

• ea0253661-8k_t1energy.htm (8-K) — 33KB
• 0001213900-25-077935.txt ( ) — 238KB
• te-20250818.xsd (EX-101.SCH) — 4KB
• te-20250818_def.xml (EX-101.DEF) — 26KB
• te-20250818_lab.xml (EX-101.LAB) — 36KB
• te-20250818_pre.xml (EX-101.PRE) — 25KB
• ea0253661-8k_t1energy_htm.xml (XML) — 6KB

02. Non-Reliance on Previously Issued Financial Statements

Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review. In the course of preparing its condensed consolidated financial statements as of and for the three and six months ended June 30, 2025, T1 Energy Inc., a Delaware corporation (the "Company"), reassessed its presentation of amortization of intangible assets related to certain acquired customer contracts. Historically, the Company recorded intangible asset amortization within selling, general and administrative as a component of operating expense on the condensed consolidated statement of operations and comprehensive loss. However, prior to filing its quarterly report on Form 10-Q for June 30, 2025 (the "Q2 Form 10-Q"), the Company determined that the amortization of intangible assets related to acquired customer contracts should be presented as an offset to revenue rather than as a component of operating expense. On August 18, 2025, the Audit and Risk Committee of the Board of Directors (the "Audit Committee") of the Company concluded, after considering the recommendations of management and discussing with the Company's independent registered public accounting firm, PricewaterhouseCoopers AS ("PwC"), that the Company's unaudited condensed consolidated financial statements as of and for the three months ended March 31, 2025 (the "Non-Reliance Period"), should not be relied upon due to the above described misstatement and needs to be restated. The errors in the consolidated financial statements for the Non-Reliance Period will be corrected in restated financial statements for each such period in an amendment to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025. The Company is diligently pursuing completion of the restatement and intends to file such amendment prior to the filing of the Company's Q2 Form 10-Q. In connection with the above restatement, as a result of the misstatement, the Company's management

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include, among other things, statements regarding the Company's intent to restate its prior consolidated financial statements for the Non-Reliance Period, the estimated impact of adjustments to the financial statements for the Non-Reliance Period, the impact of the Company's material weakness in internal control over financial reporting and the Company's disclosure controls and procedures on its financial statements and other public disclosures, the anticipated timing for filing the Company's Form 10-Q for the second quarter of 2025 and related matters. Forward-looking statements include statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," "would" or similar expressions and the negatives of those terms. Our actual results and the timing of events could materially differ from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those described in more detail in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents on file with the SEC, as well as the risk of the possibility of further material delays in the Company's financial reporting. The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this filing, except as required by applicable law or regulation.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. T1 Energy Inc. By: /s/ Daniel Barcelo Name: Daniel Barcelo Title: Chief Executive Officer and Chairman of the Board Dated: August 18, 2025 2

View Full Filing

View this 8-K filing on SEC EDGAR