Wolfspeed Inc is a leading company specializing in the development and manufacturing of wide-bandgap semiconductors, primarily based on silicon carbide and gallium nitride technologies. These advanced materials enable more efficient and powerful electronic devices, playing a crucial role in applications such as renewable energy, electric vehicles, and 5G telecommunications. The company focuses on innovation in the semiconductor industry, providing solutions that enhance performance, reduce energy consumption, and drive the transition to sustainable technologies. With a commitment to advancing semiconductor technology, Wolfspeed is positioned at the forefront of the growing demand for high-performance electronic components. Read More
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According to the company, the proactive steps would better position it to execute its long-term growth strategy and accelerate its path to profitability.
Wolfspeed, Inc. (NYSE: WOLF) (“Wolfspeed” or the “Company”) today announced that, as part of its efforts to proactively strengthen its capital structure, it entered into a Restructuring Support Agreement (the “RSA”) with key lenders, including (i) holders of more than 97% of its senior secured notes, (ii) Renesas Electronics Corporation’s wholly owned U.S. subsidiary and (iii) convertible debtholders holding more than 67% of the outstanding convertible notes. The transactions envisioned by the RSA are expected to reduce the Company’s overall debt by approximately 70%, representing a reduction of approximately $4.6 billion, and reduce the Company’s annual total cash interest payments by approximately 60%.
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Wolfspeed Inc. (NYSE: WOLF) shares are trading lower Wednesday after reports surfaced that the semiconductor company is preparing to file for bankruptcy as part of a restructuring agreement with key lenders, including Apollo Global Management.
Short interest above 20% is high, but these two stocks blow that figure out of the water. These highly volatile names are among the most shorted in the market.
David Emerson will lead operations, supply chain, and quality as Wolfspeed scales silicon carbide production to meet growing demand in automotive, energy, and industrial sectors.
Wolfspeed, Inc. (NYSE: WOLF) (“Wolfspeed” or the “Company”) today announced that David Emerson, Ph.D. has been appointed Executive Vice President and Chief Operating Officer, a newly created role responsible for overseeing operational excellence across the Company’s 200-millimeter facility footprint, reducing customer lead times, and manufacturing leading silicon carbide solutions for Wolfspeed’s customers. Dr. Emerson will be responsible for Wolfspeed’s Operations, Supply Chain, and Quality divisions.
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