Wolfspeed issues $379M 3.5% convertible notes, redeems ~$476M senior debt

WOLFSPEED, INC.

Issued $379M of 3.5% Convertible 1.5 Lien Senior Secured Notes due 2031 at a conversion price of ~$20.14.
Raised ~$96.9M via sale of 3.25M shares at $18.458 and pre-funded warrants for 2M shares at $18.448.
Used $475.9M gross proceeds to redeem ~$476M of Senior Secured Notes due 2030, reducing total debt by ~$97M.
Expected to lower annual interest expense by ~$62M; cash, cash equivalents and short-term investments of ~$1.0B.
Placement backed by T. Rowe Price and Fidelity Management & Research among other institutional investors.

item 1.01item 2.03item 3.02item 8.01item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.