--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-25-153145" form_type: "8-K" ticker: "WOLF" cik: "0000895419" company_name: "WOLFSPEED, INC." filed_at: "2025-07-01T23:59:59+00:00" generated_at: "2026-05-18T11:42:20.668423+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 1.0 calibrated_materiality_score: 1.0 confidence: "high" source: SEC EDGAR --- # Wolfspeed files Chapter 11; debt down ~70% ($4.6B), equity cancelled, holders get 3-5% of new common ## Summary - Prepackaged Chapter 11 filed to reduce total debt by ~70% (~$4.6B) and annual interest expense by ~60%. - Existing common stock cancelled; current equity holders receive pro rata 3-5% of new common equity, subject to dilution. - Company has ~$1.3B cash as of 3QFY25; expects to pay vendors in ordinary course and emerge by end of 3QCY25. - RSA backed by >97% of senior secured noteholders, >67% of convertible debtholders, and Renesas Electronics America. - Operations continue as usual; customers and vendors served normally during the restructuring process. ## SEC filing metadata - accession: 0001193125-25-153145 - form_type: 8-K - ticker: WOLF - cik: 0000895419 - company_name: WOLFSPEED, INC. - filed_at: 2025-07-01T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 1.0 - calibrated_materiality_score: 1.0 - confidence: high - sec_items: 1.03, 2.04, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/895419/000119312525153145/0001193125-25-153145-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/895419/000119312525153145/d755867d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-25-153145 - JSON: https://secwatch.observer/filing/0001193125-25-153145.json - Plain text: https://secwatch.observer/filing/0001193125-25-153145.txt ## Key facts - Debt Financings WOLFSPEED, INC. reported a default on convertible notes of 1.75% Convertible Senior Notes due 2026 with U.S. Bank Trust Company, National Association at 1.75% maturing 2026. - Instrument: convertible notes - Principal: 1.75% Convertible Senior Notes due 2026 - Counterparty: U.S. Bank Trust Company, National Association - Rate: 1.75% - Maturity: 2026 - Event: default source text: The filing of the Chapter 11 Cases described in Item 1.03 above constitutes an event of default under the Company’s following debt instruments (the “Debt Instruments”): • the Indenture, dated as of April 21, 2020, by and among Wolfspeed (f/k/a Cree, Inc.) and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), which governs Wolfspeed’s 1.75% Convertible Senior Notes due 2026 (the “2026 Notes”); evidence_url: https://www.sec.gov/Archives/edgar/data/895419/000119312525153145/0001193125-25-153145-index.htm - Debt Financings WOLFSPEED, INC. reported a default on debt of Unsecured Customer Refundable Deposit Agreement with Renesas at not specified maturing not specified. - Principal: Unsecured Customer Refundable Deposit Agreement - Counterparty: Renesas - Rate: not specified - Maturity: not specified - Event: default source text: the Unsecured Customer Refundable Deposit Agreement, dated as of July 5, 2023, as amended to date, by and between Wolfspeed and Renesas; evidence_url: https://www.sec.gov/Archives/edgar/data/895419/000119312525153145/0001193125-25-153145-index.htm - Debt Financings WOLFSPEED, INC. reported a default on convertible notes of 0.25% Convertible Senior Notes due 2028 with U.S. Bank Trust Company, National Association at 0.25% maturing 2028. - Instrument: convertible notes - Principal: 0.25% Convertible Senior Notes due 2028 - Counterparty: U.S. Bank Trust Company, National Association - Rate: 0.25% - Maturity: 2028 - Event: default source text: the Indenture, dated as of February 3, 2022, by and among Wolfspeed and U.S. Bank Trust Company, National Association, which governs Wolfspeed’s 0.25% Convertible Senior Notes due 2028 (the “2028 Notes”); evidence_url: https://www.sec.gov/Archives/edgar/data/895419/000119312525153145/0001193125-25-153145-index.htm - Debt Financings WOLFSPEED, INC. reported a default on convertible notes of 1.875% Convertible Senior Notes due 2029 with U.S. Bank Trust Company, National Association at 1.875% maturing 2029. - Instrument: convertible notes - Principal: 1.875% Convertible Senior Notes due 2029 - Counterparty: U.S. Bank Trust Company, National Association - Rate: 1.875% - Maturity: 2029 - Event: default source text: the Indenture, dated as of November 21, 2022, by and among Wolfspeed and U.S. Bank Trust Company, National Association, which governs Wolfspeed’s 1.875% Convertible Senior Notes due 2029 (collectively with the 2026 Notes and the 2028 Notes, the “Convertible Notes”); evidence_url: https://www.sec.gov/Archives/edgar/data/895419/000119312525153145/0001193125-25-153145-index.htm - Debt Financings WOLFSPEED, INC. reported a default on senior notes of Senior Secured Notes with U.S. Bank Trust Company, National Association at not specified maturing not specified. - Instrument: senior notes - Principal: Senior Secured Notes - Counterparty: U.S. Bank Trust Company, National Association - Rate: not specified - Maturity: not specified - Event: default source text: the Amended and Restated Indenture, dated as of October 11, 2024, as amended to date, by and among Wolfspeed, the subsidiary guarantors party from time to time thereto, and U.S. Bank Trust Company, National Association, as trustee and collateral agent, which governs Wolfspeed’s Senior Secured Notes. evidence_url: https://www.sec.gov/Archives/edgar/data/895419/000119312525153145/0001193125-25-153145-index.htm - Distress & Bankruptcy WOLFSPEED, INC. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas, Houston Division (petition 2025-06-30). - Proceeding: chapter 11 - Court: United States Bankruptcy Court for the Southern District of Texas, Houston Division - Petition: 2025-06-30 source text: On June 30, 2025 (the “Petition Date”), the Company filed voluntary petitions (the “Chapter 11 Cases”) under Chapter 11 of Title 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”) to implement a prepackaged chapter 11 plan of reorganization (the “Plan”). evidence_url: https://www.sec.gov/Archives/edgar/data/895419/000119312525153145/0001193125-25-153145-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.