UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Introductory Note
As previously disclosed, on June 30, 2025, Wolfspeed, Inc. (“Wolfspeed”) and its wholly owned subsidiary, Wolfspeed Texas LLC, filed voluntary petitions commencing cases (the “Chapter 11 Cases”) under Chapter 11 of Title 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”) to implement a prepackaged chapter 11 plan of reorganization (the “Plan”). The Chapter 11 Cases are jointly administered under the caption In re Wolfspeed, Inc., et al. A summary of the material terms of the Plan and related matters is contained in Wolfspeed’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 1, 2025 and is incorporated herein by reference.
On September 8, 2025, the Court entered the Order (I) Approving the Disclosure Statement, (II) Confirming the Joint Prepackaged Chapter 11 Plan of Reorganization of Wolfspeed, Inc. and Its Debtor Affiliate, and (III) Approving Entry into the Backstop Agreement [Docket No. 285], which, among other things, confirmed the Plan.
| Item 8.01. | Other Events |
In accordance with the Plan, on September 29, 2025, all of the previously issued and outstanding shares of Wolfspeed’s common stock were cancelled, and existing common stockholders received their pro rata share of 1,306,903 shares of Wolfspeed’s common stock at an exchange ratio of 0.008352. If certain regulatory milestones are achieved prior to the Regulatory Trigger Deadline (as defined in the Plan), existing common stockholders will also receive their pro rata share of an additional 871,287 shares of Wolfspeed’s common stock at an exchange ratio of 0.005568. Therefore, if such regulatory milestones are achieved prior to the Regulatory Trigger Deadline, existing common stockholders will receive their pro rata share of 2,178,190 shares of Wolfspeed’s common stock in the aggregate, representing a consolidated exchange ratio of 0.013920. If the Regulatory Trigger Deadline occurs, then the existing common stockholders will not receive any of the contingent shares.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WOLFSPEED, INC. | ||
| By: | /s/ Melissa Garrett | |
Melissa Garrett Senior Vice President and General Counsel | ||
Date: September 29, 2025