Wolfspeed, Inc. (NYSE: WOLF) announced on March 19, 2026, that it has entered into separate subscription agreements with investors to raise significant capital through the issuance of convertible notes and common stock. The company plans to issue $379 million in 3.5% Convertible 1.5 Lien Senior Secured Notes due 2031 and 3,250,030 shares of common stock at a price of $18.458 per share, along with pre-funded warrants to purchase an additional 2 million shares at $18.448 each. The total gross proceeds from these private placements are expected to be approximately $475.9 million, which will be utilized primarily to redeem outstanding Senior Secured Notes due 2030, thereby reducing higher-cost debt and annual interest expenses. The closing of these transactions is anticipated to occur on March 26, 2026, subject to customary closing conditions. This strategic move is part of Wolfspeed's ongoing efforts to strengthen its capital structure and support its initiatives in emerging high-voltage applications, including AI data centers and aerospace markets. The company has also committed to filing a resale registration statement with the SEC to facilitate the resale of the securities issued in this offering, ensuring compliance with regulatory requirements. The successful execution of this capital raise is expected to enhance Wolfspeed's financial flexibility and position it for future growth in the semiconductor industry.

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