Latham & Watkins Advises Wolfspeed on Sale of US$379 Million of Convertible Notes and US$96.9 Million of Common Stock and Pre‑Funded Warrants

Wolfspeed, Inc. (NYSE: WOLF) announced that on March 19, 2026, it entered into separate, privately negotiated subscription agreements with investors pursuant to which Wolfspeed will place (i) US$379 million aggregate principal amount of its 3.5% convertible 1.5 lien senior secured notes due 2031 and (ii) 3,250,030 shares of common stock at a purchase price of US$18.458 per share and pre‑funded warrants to purchase up to 2,000,000 shares of Wolfspeed’s common stock at a price of US$18.448 per pre‑funded warrant. The issuance and sale of the notes, shares, and pre‑funded warrants is expected to settle on March 26, 2026, subject to customary closing conditions. Funds managed by new and existing investors participated in the private placements.

Latham & Watkins LLP represented the issuer in the transaction with a corporate team led by Bay Area partners Tad Freese and Richard Kim and New York partner Ryan Gold, with associates Claire Solimine, Julian Brody, Edwin Gonzalez, Taleah Tyrell, and Helen Zhang. Advice was also provided on finance matters by Bay Area partners Haim Zaltzman and Elizabeth Oh and New York partners Ken Askin and Brian Rock, with associates Axel Magnusson and William Lane; on tax matters by Bay Area partner Grace Lee and New York partner Elena Romanova, with associates Jake Meninga and Jack Santoro; and on compliance matters by partner Les Carnegie and counsel Zach Eddington.