Financing ·
Wolfspeed disclosed unaudited pro forma consolidated financial information reflecting its prepackaged Chapter 11 plan…
WOLFWolfspeed, Inc.
Wolfspeed disclosed unaudited pro forma consolidated financial information reflecting its prepackaged Chapter 11 plan of reorganization effective September 29, 2025, and the subsequent receipt of regulatory approvals on January 29, 2026. The restructuring involved an estimated enterprise value of $2,600 million and fresh start accounting adoption. Senior secured noteholders received $1.3 billion in new notes and a $308.5 million cash payment for existing debt. Convertible noteholders exchanged claims for approximately $301.1 million in new convertible notes, $296.4 million in PIK toggle notes, and 24.5 million shares. Renesas received $203.6 million in convertible notes, warrants for nearly 5 million shares, and 16.8 million common shares. Existing equity holders received approximately 1.3 million new shares as old stock was cancelled. The pro forma statement of operations for the year ended June 28, 2026, shows a net loss of $665.9 million and a net loss per share of $14.44. Wolfspeed manufactures silicon carbide semiconductors and power devices.