Monday, 23 June, 2025
Wolfspeed Agrees $4.6B Debt Cut, Files Chapter 11 Bankruptcy by July
U.S. semiconductor maker Wolfspeed, burdened by $6.5 billion in debt, reached a pre-packaged deal to eliminate $4.6 billion—about 70%—by filing for Chapter 11 bankruptcy by July 1. The restructure includes $275 million in new financing and debt-equity swaps led by major creditors and Renesas, allowing the company to continue operations and emerge from court protection by Q3 2025. Post-bankruptcy, current shareholders will retain only 3–5% equity.
Read full story at Economic Times