WOLFSPEED, INC. (WOLF): debt financing — Wolfspeed raises ~$475.9M via convertible notes and equity to redeem higher-cost senior notes

WOLFSPEED, INC.

Gross proceeds: $379M from 3.5% Convertible Senior Secured Notes due 2031 and ~$96.9M from common stock and pre-funded warrants.
Proceeds will redeem ~$475.9M of outstanding Senior Secured Notes due 2030, reducing annual interest expense.
Notes initial conversion price ~$20.14 per share, a ~20% premium to the $16.78 March 18 closing price.
Equity issued: 3,250,030 shares at $18.458 (10% premium) and pre-funded warrants for 2M shares at $18.448.
Closing expected March 26, 2026, subject to customary conditions.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

WOLFSPEED, INC. incurred convertible notes of $379,000,000 aggregate principal amount with the investor parties at 3.5% maturing due 2031.

Instrument: convertible notes
Principal: $379,000,000 aggregate principal amount
Counterparty: the investor parties
Rate: 3.5%
Maturity: due 2031
Event: incurrence

Exact text from the filing

To the extent required by Item 2.03 of Form 8-K, the information regarding the Notes Placement set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

WOLFSPEED, INC. issued 3,250,030 shares of common stock to certain investors (the "Equity Securities Investors") for $18.458 per share.

Security: common stock
Shares: 3,250,030 shares
Purchaser: certain investors (the "Equity Securities Investors")
Consideration: $18.458 per share

Exact text from the filing

The Purchase Agreement provides for the sale and issuance by the Company of an aggregate of: (i) 3,250,030 shares (the “Shares”) of the Company’s common stock, par value $0.00125 per share (the “Common Stock”) and (ii) pre-funded warrants (the “Pre-Funded Warrants,” and, together with the Shares, the “Equity Securities”) to purchase up to an aggregate of 2,000,000 shares of Common Stock in a private placement (the “Equity Securities Placement”). The price per Share is $18.458, and the price per Pre-Funded Warrant is $18.448.

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

WOLFSPEED, INC. issued up to an aggregate of 2,000,000 shares of Common Stock of warrant to certain investors (the "Equity Securities Investors") for $18.448 per Pre-Funded Warrant.

Security: warrant
Shares: up to an aggregate of 2,000,000 shares of Common Stock
Purchaser: certain investors (the "Equity Securities Investors")
Consideration: $18.448 per Pre-Funded Warrant

Exact text from the filing

The Purchase Agreement provides for the sale and issuance by the Company of an aggregate of: (i) 3,250,030 shares (the “Shares”) of the Company’s common stock, par value $0.00125 per share (the “Common Stock”) and (ii) pre-funded warrants (the “Pre-Funded Warrants,” and, together with the Shares, the “Equity Securities”) to purchase up to an aggregate of 2,000,000 shares of Common Stock in a private placement (the “Equity Securities Placement”). The price per Share is $18.458, and the price per Pre-Funded Warrant is $18.448.

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

WOLFSPEED, INC. issued $379,000,000 aggregate principal amount of convertible note to the investor parties thereto.

Security: convertible note
Shares: $379,000,000 aggregate principal amount
Purchaser: the investor parties thereto

Exact text from the filing

The Notes Subscription Agreements provide for the sale and issuance by the Company of $379,000,000 aggregate principal amount of the Company’s 3.5% Convertible 1.5 Lien Senior Secured Notes due 2031 (the “Notes” and, together with the Equity Securities, the “Securities”) in a private placement (the “Notes Placement” and, together with the Equity Securities Placement, the “Private Placements”) to such investors.

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

WOLFSPEED, INC. entered into Notes Subscription Agreements with Wolfspeed Texas, LLC, as guarantor (the "Guarantor"), and the investor parties thereto valued at $379,000,000 aggregate principal amount (effective 2026-03-19).

Action: entry
Agreement: notes offering
Counterparty: Wolfspeed Texas, LLC, as guarantor (the "Guarantor"), and the investor parties thereto
Value: $379,000,000 aggregate principal amount
Effective: 2026-03-19

Exact text from the filing

On March 19, 2026, the Company also entered into separate, privately negotiated subscription agreements (collectively, the “Notes Subscription Agreements”) with Wolfspeed Texas, LLC, as guarantor (the “Guarantor”), and the investor parties thereto.

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

WOLFSPEED, INC. entered into Equity Purchase Agreement with certain investors (the "Equity Securities Investors") valued at approximately $96.9 million (effective 2026-03-19).

Action: entry
Agreement: equity purchase
Counterparty: certain investors (the "Equity Securities Investors")
Value: approximately $96.9 million
Effective: 2026-03-19

Exact text from the filing

On March 19, 2026, Wolfspeed, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Equity Purchase Agreement”) with certain investors (the “Equity Securities Investors”).

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102 debt financings filed in the last 30 days. Browse all debt financings →

WOLFSPEED, INC. filing history →

Source: SEC EDGAR

accession 0001193125-26-116036

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