Wolfspeed Says In Connection With The Private Placements, The Co Redeemed ~$475.9M Of The Company's Outstanding Senior Secured Notes Due 2030 , Which Is Expected To Lower Annual Interest Expense By ~ $62M And Total Debt By ~$97M

Wolfspeed, Inc. has completed private placements totaling $379 million in convertible notes and common stock, allowing the company to redeem approximately $475.9 million of its Senior Secured Notes due 2030. This redemption is expected to reduce annual interest expenses by about $62 million and total debt by approximately $97 million. The placements were supported by investors including T. Rowe Price and Fidelity, reflecting confidence in Wolfspeed's market potential and strategic direction in silicon carbide technology.