Wolfspeed sells RF business to MACOM for ~$125M; focuses on SiC power and materials

WOLFSPEED, INC.

Total consideration: ~$75M cash plus 711,528 MACOM shares valued at $50M based on 30-day average.
Transaction expected to close by end of 2023, subject to HSR clearance and customary conditions.
Wolfspeed updates Q1 FY2024 guidance: revenue from continuing ops $185-205M; non-GAAP net loss unchanged.
MACOM to take control of Wolfspeed's 100mm GaN wafer fab in RTP, NC approximately two years after close.
J.P. Morgan and Smith Anderson are financial and legal advisors to Wolfspeed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WOLFSPEED, INC. entered into Asset Purchase Agreement with MACOM Technology Solutions Holdings, Inc. valued at a payment of $75 million in cash, together with 711,528 shares of MACOM common stock (effective 2023-08-22).

Action: entry
Agreement: asset purchase
Counterparty: MACOM Technology Solutions Holdings, Inc.
Value: a payment of $75 million in cash, together with 711,528 shares of MACOM common stock
Effective: 2023-08-22

Exact text from the filing

On August 22, 2023, Wolfspeed, Inc. (“Wolfspeed” or the “Company”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with MACOM Technology Solutions Holdings, Inc., a Delaware corporation (“MACOM”).

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WOLFSPEED, INC. filing history →

Source: SEC EDGAR

accession 0000895419-23-000057

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