Wolfspeed, Inc. received court approval for its Plan of Reorganization and expects to emerge from Chapter 11 protection within the coming weeks. As part of the restructuring, Wolfspeed anticipates reducing its debt by approximately 70%, significantly strengthening its capital structure and financial flexibility.
The company stated that this milestone positions Wolfspeed to accelerate its strategic priorities and maintain its focus on innovation in silicon carbide solutions.
“We are pleased to reach this important milestone, which clears the path for us to complete our restructuring process in the coming weeks,” said Robert Feurle, Chief Executive Officer of Wolfspeed. “Strengthening our capital structure will help shape Wolfspeed into a leader in the industry, giving us the flexibility to move swiftly on strategic priorities and reinforce our leadership in silicon carbide. I want to thank our team for their dedication, as well as our customers, vendors, and lending partners for their ongoing support.”
With a stronger financial foundation, Wolfspeed aims to continue advancing its technology leadership and supporting growth in markets such as electric vehicles, renewable energy, data centers, and industrial power systems, where demand for silicon carbide solutions is rapidly accelerating.
Original – Wolfspeed