Wolfspeed (WOLF) “announced that the Company has received Court approval of its Plan of Reorganization. Wolfspeed expects to emerge from Chapter 11 protection in the next several weeks. Upon emergence, Wolfspeed expects to reduce its debt by approximately 70%, better positioning the Company to execute on its strategic priorities with a relentless focus on innovation.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WOLF:
- Largest borrow rate increases among liquid names
- Wolfspeed’s Financial Uncertainty Amid Chapter 11 Proceedings and Margin Challenges
- Wolfspeed, Inc. Faces Challenges Amid Revenue Decline
- Closing Bell Movers: Interactive Brokers up 4% on S&P500 inclusion
- Wolfspeed reports Q4 EPS (77c), consensus (72c)