Wolfspeed (WOLF) has passed on multiple out-of-court debt-holder restructuring proposals and is preparing for a Chapter 11 bankruptcy filing within weeks, The Wall Street Journal’s Alicia McElhaney and Alexander Gladstone report, citing sources familiar with the matter. The company currently has about $6.5B in debt, including a $575M balloon payment due to convertible noteholders in May 2026, the report states.
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