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Wolfspeed Shares Soar 48% as Bankruptcy Court Approves Restructuring Plan

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Wolfspeed (WOLF.N) saw its shares jump 48% to $1.82 on Tuesday after a U.S. bankruptcy court approved the company’s Chapter 11 reorganization plan, paving the way for an exit from bankruptcy in the coming weeks.

Key details of the restructuring

  • Debt reduction: Wolfspeed will slash its debt by about 70% (~$4.6 billion).

  • Lower costs: Annual cash interest payments will be cut by 60%.

  • Timeline: The company expects to formally emerge from bankruptcy within several weeks.

Industry role

Wolfspeed specializes in silicon carbide chips, which are prized for energy efficiency and are widely used in:

  • Electric vehicles (EVs)

  • Solar inverters

  • Industrial power systems

Leadership statement

CEO Robert Feurle said the ruling “clears the path for us to complete our restructuring process in the coming weeks.”

Background

  • Wolfspeed filed for Chapter 11 bankruptcy in June, citing going concern doubts.

  • The restructuring provides the company a financial lifeline amid surging demand for power-efficient chips, especially in EV and renewable energy markets.