Wolfspeed has successfully emerged from Chapter 11 bankruptcy protection, completing a financial restructuring that slashed its total debt by approximately 70% and extended maturities to 2030. The company also reduced its annual cash interest expenses by about 60%, significantly strengthening its financial position.
CEO Robert Feurle stated that the rapid restructuring marks a new chapter, enabling Wolfspeed to refocus on high-growth areas like AI, electric vehicles, industrial, and energy markets. As part of the restructuring, existing shares were canceled and replaced with new common stock, which began trading on the New York Stock Exchange and Frankfurt Stock Exchange under the ticker "WLF" on September 29.
The company also appointed five new directors, including former Micron sales executive Mike Bokan and retiring Corning president Eric Musser. Wolfspeed specializes in energy-efficient silicon carbide chips for applications such as EVs, solar inverters, and industrial power systems, positioning it to drive innovation in electrification.
ICgoodFind : Wolfspeed’s debt reduction and renewed focus on silicon carbide technology set the stage for a strong comeback in high-growth semiconductor segments.
