Latham & Watkins Represents Wolfspeed in Upsized US$1,525 Million Convertible Senior Notes Offering
Wolfspeed, Inc. (NYSE: WOLF), a global leader in Silicon Carbide technology providing power and radio frequency (RF) semiconductors, has announced the pricing of US$1,525.0 million aggregate principal amount of its 1.875% Convertible Senior Notes due 2029 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering size was increased from the previously announced offering size of US$1,300.0 million aggregate principal amount of notes. In addition, Wolfspeed has granted the initial purchasers of the Notes an option to purchase, for settlement within a 13-day period from, and including, the date on which the Notes are first issued, up to an additional US$225.0 million aggregate principal amount of the Notes.
Latham & Watkins LLP represents Wolfspeed in the offering with a corporate team led by Bay Area partners Tad Freese and Brian Paulson, with associates Tess Bloom and Chelsi DeTurk. Advice was provided on convertible debt matters by New York/Los Angeles partner Greg Rodgers and Los Angeles partner Arash Aminian Baghai, with associates Ryan Gold and Andrew Bentz; on tax matters by New York partners Elena Romanova and Bora Bozkurt, with associates Ron Moore and Jacob Nagelberg; and on equity derivatives matters by New York partner Catherine Lee, with associates Chris Yu and Kevin Zhang.