Shares of Wolfspeed Inc. (NYSE:WOLF) are trading higher on Wednesay on a wave of investor interest that began in late June.
What To Know: On June 30, Wolfspeed officially entered Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas. The filing is part of a broader restructuring strategy announced earlier in June, through which Wolfspeed seeks to reduce its total debt by approximately 70% or $4.6 billion and cut annual interest expenses by 60%. The reorganization is supported by over 97% of senior secured noteholders and key stakeholders such as Renesas Electronics America Inc.
