Wolfspeed raises $476M via convertible notes and equity, redeems senior debt with $47M premium

Filed March 26, 2026 · Period ending March 26, 2026 · ~1 min read

Key Changes

• high

  Issued $379M of 3.5% convertible notes due 2031 at $20.14/share conversion price (20% premium to market), creating potential dilution of 22.6M shares. Notes rank behind existing senior debt but ahead of second-lien obligations in complex capital structure.

  Item 1.01 verify on EDGAR →
• high

  Raised $96.9M through private placement of 3.25M common shares and pre-funded warrants for 2M shares at ~$18.45 each. Combined with convertible notes, total potential dilution exceeds 27M shares (significant for existing holders).

  Item 3.02 verify on EDGAR →
• high

  Used all private placement proceeds to redeem $475.9M of senior notes, paying $47M make-whole premium plus $1.5M interest from cash on hand. Maintains $1B in cash and equivalents post-transaction.

  Item 8.01 verify on EDGAR →