Wolfspeed (WOLF) announced that it has received $698.6M in cash tax refunds from the Internal Revenue Service from the Advanced Manufacturing Investment Credit under Section 48D of the Internal Revenue Code. The refund represents a step in the monetization of the approximately $1B of Section 48D cash tax refunds accrued from the AMIC. In fiscal 2025, the company received $186.5M in cash tax refunds related to its fiscal 2023 and fiscal 2024 federal tax filings. Following receipt of these funds, Wolfspeed’s cash balance is approximately $1.5B.
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