Wolfspeed Emerges From Restructuring With Cleaner Balance Sheet and New Product Line

A pivotal week for semiconductor specialist Wolfspeed may have set the stage for a profound corporate transformation. The company, which focuses on silicon carbide technology, achieved two critical milestones in early September: receiving final approval for its reorganization plan from a U.S. bankruptcy court on September 8th and simultaneously launching commercial sales of its newest generation of 200mm wafers. These developments signal a potential rebirth for a firm that has navigated months of significant uncertainty.

The court-sanctioned exit from Chapter 11 bankruptcy proceedings, expected to be finalized in the coming weeks, facilitates a remarkable financial turnaround. Wolfspeed?s debt burden is set to be slashed by approximately 70%, equating to a reduction in liabilities of around $4.6 billion. In a further boost to its... Read more...