---
schema_version: "secwatch.filing_event.v1"
accession: "0000908255-22-000047"
form_type: "8-K"
ticker: "BWA"
cik: "0000908255"
company_name: "BORGWARNER INC"
filed_at: "2022-11-16T23:59:59+00:00"
generated_at: "2026-06-21T17:55:01.085619+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# BorgWarner to invest up to $500M in Wolfspeed convertible note; secures SiC supply

## Summary
- BorgWarner commits up to $500M to Wolfspeed's minimum $1B convertible debt offering.
- Multiyear agreement gives BorgWarner capacity to buy up to $650M of SiC devices annually starting 2024.
- Investment contingent on offering closing by May 15, 2023; final terms to be negotiated.
- Wolfspeed (WOLF) is a semiconductor company focused on SiC and GaN technologies.

## SEC filing metadata
- accession: 0000908255-22-000047
- form_type: 8-K
- ticker: BWA
- cik: 0000908255
- company_name: BORGWARNER INC
- filed_at: 2022-11-16T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/908255/000090825522000047/0000908255-22-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/908255/000090825522000047/bwa-20221116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000908255-22-000047
- JSON: https://secwatch.observer/filing/0000908255-22-000047.json
- Plain text: https://secwatch.observer/filing/0000908255-22-000047.txt

## Key facts
- Material Agreements
  BORGWARNER INC entered into a notes offering with Wolfspeed, Inc. valued at $500 million (effective 2022-11-16).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Wolfspeed, Inc.
  - Value: $500 million
  - Effective: 2022-11-16
  source text: On November 16, 2022, BorgWarner Inc. (the “ Company ” or “ BorgWarner ”) entered into a letter agreement with Wolfspeed, Inc. (NYSE: WOLF) (“ Wolfspeed ”) under which BorgWarner agreed to invest up to $500 million in a not-less-than $1 billion convertible debt offering (the “ Offering ”) by Wolfspeed, a semiconductor company focused on silicon carbide and GaN technologies.
  evidence_url: https://www.sec.gov/Archives/edgar/data/908255/000090825522000047/0000908255-22-000047-index.htm
- Material Agreements
  BORGWARNER INC entered into a supply with Wolfspeed, Inc. valued at $650 million (effective 2022-11-16).
  - Action: entry
  - Agreement: supply
  - Counterparty: Wolfspeed, Inc.
  - Value: $650 million
  - Effective: 2022-11-16
  source text: Simultaneously with the execution of the letter agreement, BorgWarner and Wolfspeed entered into an agreement under which Wolfspeed agreed to provide a silicon carbide manufacturing capacity corridor to BorgWarner. Under the multiyear agreement between BorgWarner and Wolfspeed, beginning in 2024, BorgWarner will be entitled to purchase up to $650 million of devices annually as BorgWarner requirements increase.
  evidence_url: https://www.sec.gov/Archives/edgar/data/908255/000090825522000047/0000908255-22-000047-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.