Wolfspeed Sets July 1 Deadline to File for Chapter 11

Wolfspeed plans to file for Chapter 11 bankruptcy protection by July 1 as part of restructuring agreement backed by key creditors, including Renesas and holders of more than 97% of its senior secured notes.

• The plan is expected to cut the company’s debt by about $4.6b or 70%, and reduce annual interest expense by 60%
• NOTE: Wolfspeed Entered Into Restructuring Support Pact

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