Wolfspeed has exited chapter 11 bankruptcy after reducing its total debt by nearly 70% and annual cash interest expense by about 60%.

The US-based company, which produces silicon carbide chips for EVs, solar inverters, and industrial power systems, said it has enough liquidity to continue serving its customers.

Wolfspeed filed for bankruptcy in June in the Southern District of Texas, following concerns about its ability to continue due to economic uncertainty and weaker demand linked to shifting US trade policies.

The company has also appointed five new directors to its board, including former Micron executive Mike Bokan, and outgoing Corning president Eric Musser.

🔗 Source: Reuters