Wolfspeed Inc.
Wolfspeed Announces Private Placement of $475.9 Million in Equity and Convertible Notes
Summary
Wolfspeed, Inc. has entered into a Securities Purchase Agreement to issue $379 million of 3.5% Convertible 1.5 Lien Senior Secured Notes due 2031 and $96.9 million of common stock and pre-funded warrants in a private placement. The offering is expected to close on March 26, 2026, and the proceeds will be used to redeem approximately $475.9 million of the company's outstanding Senior Secured Notes due 2030. The common stock was issued at a 10% premium over the closing price on March 18, 2026.
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About Wolfspeed Inc.
Wolfspeed Inc. is a leading innovator in the production of silicon carbide materials and devices, vital components in the power and radio frequency (RF) markets. With its roots in advanced semiconductor technology, Wolfspeed specializes in manufacturing products that enhance energy efficiency and performance. The company's offerings include power devices that are crucial for electric vehicles, fast charging systems, renewable energy, and other industrial applications. Moreover, Wolfspeed's RF devices are instrumental in telecommunications infrastructure, including 5G and other wireless communication networks. Based in North Carolina, Wolfspeed stands at the forefront of technological advancement, driving significant developments in the semiconductor sector through its commitment to superior power solutions and environmental sustainability. Its materials play a critical role in enabling faster, smaller, lighter, and more efficient power systems, marking essential transitions in both consumer and industry-wide applications. Wolfspeed's operations are pivotal in supporting the evolution of high-demand sectors such as automotive, industrial power, and telecommunications, underlining its importance in today's market landscape.
Official SEC Documents
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