By Josh Beckerman
Wolfspeed shares were down 58% to $1.31 after hours on Tuesday as The Wall Street Journal, citing sources, said the company is preparing to file for bankruptcy within a matter of weeks.
The maker of silicon-carbide wafers and semiconductor components said on May 9 that it remained actively engaged with lenders to improve its capital structure.
Wolfspeed, which was expected to receive up to $750 million in taxpayer support via the 2022 Chips Act, said in March that it maintained constructive dialogue with the White House, legislators and the Commerce Department regarding federal funding.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 20, 2025 18:14 ET (22:14 GMT)
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