Wolfspeed Inc. Enters Restructuring Agreement to Slash Debt by 70% and Strengthen Financial Stability
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Wolfspeed, Inc. has entered a Restructuring Support Agreement with key lenders to strengthen its capital structure, reducing overall debt by approximately 70%, or $4.6 billion. This will decrease annual cash interest payments by about 60%. The company will continue operations, ensuring vendor payments and employee compensation during the restructuring process, aiming for long-term growth in the silicon carbide market. Further details will be provided in an upcoming Form 8-K filing with the SEC.
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