Wolfspeed, a global leader in silicon carbide technologies, announces Court approval of its Plan of Reorganization.
Company expects to emerge from Chapter 11 protection in the next several weeks.
Upon emergence, Wolfspeed anticipates reducing debt by approximately 70%.
Debt Reduction
Company expects to decrease debt by around 70% upon emergence from Chapter 11 protection.
Strategic Priorities
The reorganization process aims to better position Wolfspeed to focus on innovation and strategic priorities.
Financial Flexibility
Anticipated emergence with enhanced financial flexibility to reinforce leadership in the silicon carbide industry.
- The approval of the Plan of Reorganization marks a significant milestone for Wolfspeed, paving the way for a stronger financial future.
- Reducing debt by 70% will provide the company with more resources to execute its strategic initiatives.
- Wolfspeed's successful emergence from Chapter 11 protection is expected to enhance its market competitiveness and innovation capabilities.
Wolfspeed's confirmation of the Plan of Reorganization sets the stage for a new chapter of financial strength and innovation in the silicon carbide industry.