Wolfspeed Successfully Completes Financial Restructuring, Emerges as Financially Stronger Company Well Positioned in Silicon Carbide Market
DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technologies, today announced the successful completion of its financial restructuring process and emergence from Chapter 11 protection. Through the restructuring process, Wolfspeed has reduced its total debt by approximately 70%, with maturities extended to 2030, and lowered its annual cash interest expense by roughly 60%. In addition, the Company believes that it maintains ample liquidity to contin. ...