Wolfspeed Jumps on Report Apollo in Talks to Restructure Debt

Wolfspeed shares extend gains to as much as 28% after the WSJ reported that Apollo Global Management has engaged investment bank Moelis as it negotiates a potential debt restructuring with Wolfspeed, citing people familiar with the matter.

• Apollo ranks near the top of Wolfspeed’s debt stack of about $6.5 billion, and it leads a group that holds $1.5 billion of senior secured loans and has the right to approve new secured financing, WSJ says, citing securities filings
• NOTE, May 9: Wolfspeed Drops as Going Concern Risk Spurs Cuts: Street Wrap

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