This article first appeared on GuruFocus. Wolfspeed (NYSE:WOLF) has come out of Chapter 11 with less debt, a slimmer share count and a new board, but the reset came at a brutal cost to existing investors. The company wiped away 70% of its debt, or $4.6 billion, and stretched maturities to 2030. Annual interest costs are now 60% lower, giving …
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This article first appeared on GuruFocus. Sep 30 – Wolfspeed (NYSE:WOLF) shares skyrocketed Monday as the company completed a major restructuring tied to its bankruptcy plan. The stock closed at $20.89, a jump of more than 1,700% from Friday’s $1.21 close, after all previously issued shares were cancelled and replaced with a new issuance. Wolfspeed was also up 30% on …
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