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Wolfspeed Receives Court Approval To Exit Chapter 11 Protection; Wolfspeed Expects To Reduce Its Debt By ~70%, Positioning The Company To Execute On Its Strategic Priorities
Company Expects to Emerge from Chapter 11 Process in the Next Several Weeks
Wolfspeed, Inc. (NYSE:WOLF), a global leader in silicon carbide technologies, today 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.
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