Recent Updates — WOLF
Wolfspeed disclosed unaudited pro forma consolidated financial information reflecting its prepackaged Chapter 11 plan of reorganization effective September 29, 2025, and the subsequent receipt of regulatory approvals on January 29, 2026. The restructuring involved an estimated enterprise value of $2,600 million and fresh start accounting adoption. Senior secured noteholders received $1.3 billion in new notes and a $308.5 million cash payment for existing debt. Convertible noteholders exchanged claims for approximately $301.1 million in new convertible notes, $296.4 million in PIK toggle notes, and 24.5 million shares. Renesas received $203.6 million in convertible notes, warrants for nearly 5 million shares, and 16.8 million common shares. Existing equity holders received approximately 1.3 million new shares as old stock was cancelled. The pro forma statement of operations for the year ended June 28, 2026, shows a net loss of $665.9 million and a net loss per share of $14.44. Wolfspeed manufactures silicon carbide semiconductors and power devices.
Wolfspeed reported fourth-quarter fiscal 2026 results with consolidated revenue of approximately $150 million and a GAAP net loss of $145 million. The company highlighted that AI data center revenue more than doubled year-over-year, while launching its fifth-generation SiC MOSFET and appointing Andy Mattes to the Board. Capital structure improvements included the voluntary conversion of $46 million in convertible notes to equity. As of June 28, 2026, Wolfspeed held $1.1 billion in cash, equivalents, and short-term investments. For first-quarter fiscal 2027, revenue guidance is set between $140 million and $160 million with negative non-GAAP gross margins expected. Wolfspeed operates in the semiconductor industry, specializing in silicon carbide technologies for power devices.
On July 28, 2026, Wolfspeed appointed Andreas W. Mattes to its Board of Directors and Compensation Committee. Mr. Mattes brings extensive executive experience, having served as CEO of Coherent Inc. and held leadership roles at Diebold Nixdorf, Hewlett Packard, and Siemens. He receives an $80,000 annual board retainer, a $10,000 committee retainer, and an initial equity award of RSUs valued at $500,000 with standard vesting schedules. This filing is an amendment correcting information in the original July 29, 2026 report regarding this appointment. Wolfspeed operates in the semiconductor industry, specializing in silicon carbide (SiC) and gallium nitride (GaN) power devices.
Wolfspeed appointed Andreas W. Mattes as a director and chair of the Compensation Committee, effective July 28, 2026. Mattes brings extensive semiconductor leadership experience, having previously served as CEO of Coherent and held senior roles at Diebold Nixdorf, Hewlett Packard, Siemens, and McKinsey & Company. He will receive an $80,000 annual board retainer, a $20,000 committee chair retainer, and an initial equity award of restricted stock units valued at $500,000. The company also announced its 2026 Annual Meeting of Stockholders will be held on October 27, 2026, with deadlines for stockholder proposals set for August 7, 2026. Wolfspeed operates in the semiconductor industry and is a global leader in silicon carbide technology.
Wolfspeed, Inc. disclosed unaudited pro forma consolidated financial information to reflect the effects of its prepackaged plan of reorganization that became effective on September 29, 2025, the adoption of fresh start accounting, and the receipt of regulatory approvals on January 29, 2026. The company provides pro forma statements of operations for the year ended June 29, 2025, and for the nine months ended March 29, 2026. Wolfspeed, Inc. operates in the semiconductor industry, providing silicon carbide and other wide bandgap technologies.