secwatch.observer — SEC 8-K summary
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Issuer:     WOLFSPEED, INC. (WOLF)
CIK:        0000895419
Form:       8-K
Filed at:   2026-03-26T23:59:59+00:00
Accession:  0001193125-26-126483
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/895419/000119312526126483/0001193125-26-126483-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/895419/000119312526126483/d916941d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-126483

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer