Wolfspeed’s Plan of Reorganization Confirmed, Clearing Path to Emerge from Restructuring Process as a Financially Stronger Company

(NYSE:WOLF) DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technologies, today announced that the Company has received Court approval of its Plan of Reorganization. Wolfspeed expects to emerge from Chapter 11 protection in the next several weeks. Upon emergence, Wolfspeed expects to reduce its debt by approximately 70%, better positioning the Company to execute on its strategic priorities with a relentless focus on innovation. “We are pleased to reach this i