Wolfspeed announced on January 15, 2025, the completion of its at-the-market (ATM) equity offering. Through this program, the company sold 27,793,535 shares of its common stock, generating gross proceeds of approximately $200 million.
The net proceeds from the ATM program are intended to improve Wolfspeed's capital structure, reduce leverage, and address outstanding maturities on its balance sheet. This offering is a key step in the company's financial strategy.
Executive Chairman Tom Werner stated that completing the ATM program marks an important milestone towards finalizing the company's CHIPS Act funding process. This equity raise satisfies a non-debt funding requirement for receiving the first funding disbursements from the CHIPS office and other lenders.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.