WOLFSPEED, INC. — fact timeline

WOLFSPEED, INC. reported third quarter of fiscal 2026 results: revenue approximately $150 million, net income GAAP net loss of $120 million.

“potential of the site. • CFIUS clearance and equity issuance to Renesas completes Chapter 11 procedures. Quarterly Financial Highlights • Consolidated revenue of approximately $150 million, aligned with midpoint of guidance range. • GAAP gross margin of (27)% and Non-GAAP gross margin of (21)%. • GAAP net loss of $120 million and adjusted EBITDA of ($62) million. •”

WOLFSPEED, INC. issued up to 2,000,000 shares of Common Stock of warrant to certain investors for $18.448 per Pre-Funded Warrant.

“On March 26, 2026, pursuant to the terms of the Securities Purchase Agreement, the Company issued and sold an aggregate of 3,250,030 shares of Common Stock (the “Shares”) and pre-funded warrants (the “Pre-Funded Warrants” and, together with the Shares and the Notes, the “Securities”) to purchase up to 2,000,000 shares of Common Stock. The price per Share was $18.458, and the price per Pre-Funded Warrant was $18.448, for aggregate gross proceeds of approximately $96.9 million.”

WOLFSPEED, INC. issued 3,250,030 shares of Common Stock of common stock to certain investors for $18.458 per Share.

“On March 26, 2026, pursuant to the terms of the Securities Purchase Agreement, the Company issued and sold an aggregate of 3,250,030 shares of Common Stock (the “Shares”) and pre-funded warrants (the “Pre-Funded Warrants” and, together with the Shares and the Notes, the “Securities”) to purchase up to 2,000,000 shares of Common Stock. The price per Share was $18.458, and the price per Pre-Funded Warrant was $18.448, for aggregate gross proceeds of approximately $96.9 million.”

WOLFSPEED, INC. issued convertible note for $379,000,000 aggregate principal amount.

“On March 26, 2026, Wolfspeed, Inc. (the “Company”) issued $379,000,000 aggregate principal amount of its 3.5% Convertible 1.5 Lien Senior Secured Notes due 2031 (the “Notes”) in a private placement (the “Notes Placement”).”

WOLFSPEED, INC. incurred convertible notes of $379,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 3.5% per year maturing March 15, 2031.

“On March 26, 2026, Wolfspeed, Inc. (the “Company”) issued $379,000,000 aggregate principal amount of its 3.5% Convertible 1.5 Lien Senior Secured Notes due 2031 (the “Notes”) in a private placement (the “Notes Placement”).”

WOLFSPEED, INC. amended 2L Renesas Supplemental Indenture with U.S. Bank Trust Company, National Association and Wolfspeed Texas LLC (effective 2026-03-26).

“the Company entered into that certain First Supplemental Indenture (the “2L Renesas Supplemental Indenture”), dated as of March 26, 2026, among the Company, Wolfspeed Texas, as subsidiary guarantor (in such capacity, the “2L Renesas Guarantor”), and U.S. Bank Trust Company, National Association, as trustee and collateral agent (in such capacities, the “2L”

WOLFSPEED, INC. amended 2L Non-Renesas Supplemental Indenture with U.S. Bank Trust Company, National Association and Wolfspeed Texas LLC (effective 2026-03-26).

“the Company entered into that certain First Supplemental Indenture (the “2L Non-Renesas Supplemental Indenture”), dated as of March 26, 2026, among the Company, Wolfspeed Texas, as subsidiary guarantor (in such capacity, the “2L Non-Renesas Guarantor”), and U.S. Bank Trust Company, National Association, as trustee and collateral agent (in such capacities, the “2L Non-Renesas Agent”) to supplement and amend certain covenants of the Company under that certain Indenture, dated as of September 29, 2025, by and among the Company, the 2L Non-Renesas Guarantor and the 2L Non-Renesas Agent governing the Company’s outstanding 2.5% Convertible Second-Lien Senior Secured Notes due 2031 (the “2L Non-Renesas Indenture”).”

WOLFSPEED, INC. amended 1L Supplemental Indenture with U.S. Bank Trust Company, National Association and Wolfspeed Texas LLC (effective 2026-03-26).

“the Company entered into that certain First Supplemental Indenture (the “1L Supplemental Indenture”), dated as of March 26, 2026, among the Company, Wolfspeed Texas, as subsidiary guarantor (in such capacity, the “1L Guarantor”), and U.S. Bank Trust Company, National Association, as trustee and collateral agent (in such capacities, the “1L Indenture Agent”) to amend and waive certain provisions of that certain Indenture, dated as of September 29, 2025, by and among the Company, the 1L Guarantor and the 1L Indenture Agent governing the Senior Notes (the “1L Indenture”) and to permit the Company and the 1L Guarantor to enter into the Indenture and the Company to issue the Notes.”

WOLFSPEED, INC. entered into Indenture with U.S. Bank Trust Company, National Association and Wolfspeed Texas LLC valued at $379,000,000 (effective 2026-03-26).

“On March 26, 2026, Wolfspeed, Inc. (the “Company”) issued $379,000,000 aggregate principal amount of its 3.5% Convertible 1.5 Lien Senior Secured Notes due 2031 (the “Notes”) in a private placement (the “Notes Placement”). The Notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of March 26, 2026, among the Company, Wolfspeed Texas LLC (“Wolfspeed Texas”), as subsidiary guarantor (in such capacity, the “Guarantor”), and U.S. Bank Trust Company, National Association, as trustee (in such capacity, the “Trustee”) and collateral agent (in such capacity, the “Collateral Agent”).”

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

“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.”

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.

“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.”

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

“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.”

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).

“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.”

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

“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”).”

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

“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.”

WOLFSPEED, INC. issued 871,287 shares of common stock to holders of common stock of Wolfspeed immediately prior to the Plan Effective Date.

“holders of common stock of Wolfspeed immediately prior to the Plan Effective Date will receive their pro rata portion of 871,287 shares of Common Stock.”

WOLFSPEED, INC. issued 16,852,372 shares of common stock to Renesas Electronics America Inc..

“Wolfspeed issued 16,852,372 shares of common stock, par value $0.00125 per share (“Common Stock”), of Wolfspeed to Renesas.”

WOLFSPEED, INC. issued approximately 1,306,896 shares of New Common Stock of common stock to existing equity holders for pro rata share for cancellation of Old Common Stock.

“all of the previously issued and outstanding shares of Old Common Stock were cancelled, and existing equity holders received their pro rata share of approximately 1,306,896 shares of New Common Stock.”

WOLFSPEED, INC. issued 4,943,555 shares of warrant to Renesas Electronics America Inc. for exercise price of $23.95 per share.

“Wolfspeed issued a warrant (the “Renesas Warrant”) to Renesas Electronics America Inc. (“Renesas”) to purchase an aggregate of 4,943,555 shares of Wolfspeed’s common stock, par value $0.00125 per share (the “New Common Stock”), at an exercise price of $23.95 per share.”

WOLFSPEED, INC.: Adopted New Bylaws upon conversion from a North Carolina corporation to a Delaware corporation.

“Wolfspeed effected a conversion from a North Carolina corporation to a Delaware corporation and, in connection therewith, the New Certificate of Incorporation became effective and Wolfspeed adopted the New Bylaws.”

WOLFSPEED, INC.: Adopted New Certificate of Incorporation upon conversion from a North Carolina corporation to a Delaware corporation.

“Wolfspeed effected a conversion from a North Carolina corporation to a Delaware corporation and, in connection therewith, the New Certificate of Incorporation became effective and Wolfspeed adopted the New Bylaws.”

WOLFSPEED, INC. underwent a change of control (closed 2025-09-29).

“On the Plan Effective Date, all previously issued and outstanding equity interests in Wolfspeed were cancelled and extinguished.”

WOLFSPEED, INC. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas, Houston Division (petition 2025-06-30).

“On June 30, 2025 (the “Petition Date”), Wolfspeed, Inc. (“Wolfspeed”) and its wholly owned subsidiary, Wolfspeed Texas LLC (together with Wolfspeed, the “Company”), filed voluntary petitions commencing cases (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”).”

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.

“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.”

WOLFSPEED, INC. reported a default on debt of Unsecured Customer Refundable Deposit Agreement with Renesas at not specified maturing not specified.

“the Unsecured Customer Refundable Deposit Agreement, dated as of July 5, 2023, as amended to date, by and between Wolfspeed and Renesas;”

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.

“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”);”

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.

“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”);”

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.

“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”);”

WOLFSPEED, INC. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas, Houston Division (petition 2025-06-30).

“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”).”

Kevin Speirits was appointed as Interim Chief Financial Officer at WOLFSPEED, INC..

“Kevin Speirits, currently the Company’s Senior Vice President, Finance, will serve as Interim Chief Financial Officer effective May 30, 2025”

Neill P. Reynolds departed as Executive Vice President and Chief Financial Officer at WOLFSPEED, INC..

“Neill P. Reynolds, the Company’s Executive Vice President and Chief Financial Officer, will depart effective May 30, 2025.”

David Emerson was appointed as Executive Vice President and Chief Operating Officer at WOLFSPEED, INC..

“appointed David Emerson, Ph.D., to serve as the Company’s Executive Vice President (“EVP”) and Chief Operating Officer (“COO”).”

Paul V. Walsh was elected as Director at WOLFSPEED, INC..

“elected each of Mark Jensen and Paul V. Walsh, Jr. as a member of the Board”

Mark Jensen was elected as Director at WOLFSPEED, INC..

“elected each of Mark Jensen and Paul V. Walsh, Jr. as a member of the Board”

Robert Feurle was appointed as Chief Executive Officer at WOLFSPEED, INC..

“The Company onboards its new Chief Executive Officer, Robert Feurle, on May 1, 2025.”

Neill P. Reynolds departed as Executive Vice President and Chief Financial Officer at WOLFSPEED, INC..

“the Company and its Executive Vice President and Chief Financial Officer, Neill P. Reynolds, have agreed that he will be departing the Company effective May 30, 2025.”

George H. Young III resigned as Director at WOLFSPEED, INC..

“On April 3, 2025, Thomas J. Seifert and George H. “Woody” Young III, members of the Board of Directors (the “Board”) of Wolfspeed, Inc. (the “Company”), each notified the Company of his decision to resign from the Board, effective as of April 3, 2025.”

Thomas J. Seifert resigned as Director at WOLFSPEED, INC..

“On April 3, 2025, Thomas J. Seifert and George H. “Woody” Young III, members of the Board of Directors (the “Board”) of Wolfspeed, Inc. (the “Company”), each notified the Company of his decision to resign from the Board, effective as of April 3, 2025.”

Thomas Werner changed role as Chairman of the Board at WOLFSPEED, INC..

“After a transition period, Mr. Werner will continue to serve as a non-employee director and Chairman of the Board.”

Robert Feurle was appointed as Chief Executive Officer at WOLFSPEED, INC..

“On March 27, 2025, the Board of Directors (the “Board”) of Wolfspeed, Inc. (the “Company”) appointed Robert Feurle to serve as the Company’s Chief Executive Officer and a member of the Board, effective May 1, 2025”

Thomas H. Werner was appointed as Executive Chair at WOLFSPEED, INC..

“the Board of Directors (the “Board”) of Wolfspeed, Inc. (the “Company”) appointed Thomas H. Werner as Executive Chair effective as of November 18, 2024.”

Stacy J. Smith was appointed as Lead Independent Director at WOLFSPEED, INC..

“Stacy J. Smith has been appointed as Lead Independent Director.”

Thomas H. Werner was appointed as Executive Chair at WOLFSPEED, INC..

“On November 15, 2024, the Company’s Board of Directors appointed Thomas H. Werner, current Chair of the Board, as Executive Chair effective as of November 18, 2024, in which role he will serve as the Company’s principal executive officer on an interim basis”

Gregg A. Lowe departed as President and Chief Executive Officer at WOLFSPEED, INC..

“On November 18, 2024, Wolfspeed, Inc. (the “Company”) announced the departure of its President and Chief Executive Officer, Gregg A. Lowe.”

WOLFSPEED, INC. announced a restructuring with charges of restructuring-related costs affecting facility closure and consolidation plan to optimize cost structure and accelerate transition from 150mm to 200mm silicon carbide devices.

“Wolfspeed incurred $87.1 million of restructuring-related costs in the first quarter of fiscal 2025, of which $34.3 million were recognized in cost of revenue, net and $52.8 million were expensed as operating expense in the statement of operations.”

WOLFSPEED, INC. announced a restructuring with charges of severance and employee benefit costs, voluntary termination benefits and other facility closure-related costs affecting facility closure and consolidation plan to optimize cost structure and accelerate transition from 150mm to 200mm silicon carbide devices.

“During the first quarter of fiscal 2025, Wolfspeed initiated a facility closure and consolidation plan to optimize its cost structure and accelerate its transition from 150mm to 200mm silicon carbide devices. The costs incurred as a result of this restructuring plan include severance and employee benefit costs, voluntary termination benefits and other facility closure-related costs.”

WOLFSPEED, INC. announced a restructuring with charges of asset-related charges and fixed manufacturing costs that will be eliminated as a result of this plan and other incremental costs to exit facilities affecting closure of the Company's 150mm device fabrication facility in Durham, North Carolina.

“Additionally, the Company has incurred, and over the next 12 months will continue to incur, additional facility closure-related costs related to these activities, including asset-related charges and fixed manufacturing costs that will be eliminated as a result of this plan and other incremental costs to exit facilities.”

WOLFSPEED, INC. announced a restructuring with charges of severance and employee benefit costs, voluntary termination benefits, and other exit costs affecting closure of the Company's 150mm device fabrication facility in Durham, North Carolina; realignment of related activities across geographic regions; optimization of resources across various functional g (total headcount reduction of approximately 20% over the next six months to one year).

“During the first quarter of fiscal 2025, the Company initiated a headcount reduction and facility closure and consolidation plan intended to optimize its cost structure as the Company accelerates its transition from 150mm to 200mm silicon carbide devices (the 2025 Restructuring Plan). The actions taken under the 2025 Restructuring Plan will ultimately result in the closure of the Company's 150mm device fabrication facility in Durham, North Carolina as well as a realignment of related activities across the geographic regions in which the Company operates. The Company is also taking steps to optimize the allocation of resources across various functional groups. The Company expects these actions will result in a total headcount reduction of approximately 20% over the next six months to one year. The Company began to notify affected employees on November 6, 2024.”

WOLFSPEED, INC. reported its fourth quarter of fiscal 2024 results: revenue $185 million to $215 million, net income $166 million to $189 million, EPS $1.32 to $1.50 per diluted share. Guidance initiated.

“For its fourth quarter of fiscal 2024, Wolfspeed targets revenue from continuing operations in a range of $185 million to $215 million. GAAP net loss from continuing operations is targeted at $166 million to $189 million, or $1.32 to $1.50 per diluted share.”

WOLFSPEED, INC. reported financial results for the fiscal third quarter ended March 31, 2024.

“On May 1, 2024 , Wolfspeed, Inc. (the "Company") issued a press release announcing results for the fiscal third quarter ended March 31, 2024.”