Latham Represents Wolfspeed in Successful Completion of Financial Restructuring and Emergence From Chapter 11 Protection

Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technologies, has announced the successful completion of its financial restructuring process and emergence from Chapter 11 protection. Through the restructuring process, Wolfspeed has reduced its total debt by approximately 70%, with maturities extended to 2030, and lowered its annual cash interest expense by roughly 60%. In addition, the Company believes that it maintains ample liquidity to continue supplying customers with leading silicon carbide solutions. With a self-funded business plan supported by free cash flow generation, Wolfspeed is well positioned to leverage its vertically integrated 200mm manufacturing footprint — underpinned by a secure and scalable US-based supply chain — to drive sustainable growth.

Latham & Watkins LLP represents Wolfspeed in the process with a Restructuring & Special Situations team led by New York partners Ray C. Schrock, Alexander W. Welch, and Keith Simon, with associates Eric Einhorn, Alexandra Zablocki, Isaac Ashworth, Thomas Fafara, Rebekah Presley, Ryan Lindsey, Richard Cantoral, Saadia Naeem, and Sahib Singh. Advice on corporate matters was provided by Bay Area partners Tad Freese and Richard Kim, with associates Julian Brody, Raul Gonzalez-Casarrubias, Edwin Gonzalez, Annie Kim, Chelsi DeTurk, Eduardo Magana, and Keran Huang; on capital markets matters by New York/Los Angeles partner Greg Rodgers, New York partner Senet Bischoff, Chicago partner Roderick Branch, and Chicago counsel Manasi Bhattacharyya, with associates Ryan Gold, Claire Solimine, Jie Lin Nai, and Helen Zhang; on finance matters by Bay Area/New York partner Haim Zaltzman, Los Angeles partners Elizabeth Oh and Kenneth Askin, and New York partner Seniz Yakut, with associates Axel Magnusson, Andrew Bentz, Alex Grossman, and William Lane; on tax matters by Bay Area partners Grace Lee and James Metz, New York partner Elena Romanova, and New York counsel Rifka Singer, with associates Nimra Syed and Jacob Meninga, with assistance from Jack Santoro; and on CFIUS matters by Washington D.C. partners Les Carnegie, Patrick English, and Damara Chambers, Bay Area partner Joshua Holian, and Washington, D.C. counsel Zachary Eddington, with associates Amulya Vadapalli and Dillon Curtis.