Wolfspeed Inc SEC Filings

Wolfspeed, Inc. filed a Form 8-K announcing that it has provided unaudited pro forma consolidated financial information and explanatory notes. The pro forma information gives effect to the company’s prepackaged plan of reorganization that became effective on September 29, 2025, and its adoption of fresh start accounting on that date in accordance with ASC 852.

The materials are furnished for informational purposes and are included as Exhibit 99.1, incorporated by reference. This update outlines how Wolfspeed’s financial presentation reflects the plan’s effectiveness and the accounting reset applied on September 29, 2025.

Wolfspeed (WOLF): Renesas Electronics America Inc. and its parent, Renesas Electronics Corporation, disclosed beneficial ownership of 32,892,174 shares of Wolfspeed common stock, representing 56.0% of the class.

The reported stake reflects 16,852,372 shares of common stock plus shares issuable upon conversion of the Issuer’s 2.5% Convertible Second Lien Senior Secured Notes due 2031 (11,096,247 shares) and upon exercise of a warrant (4,943,555 shares), collectively described as the REA Reserve Shares. The percentage is based on 25,855,390 shares outstanding as of October 14, 2025, plus the REA Reserve Shares.

Renesas reports no sole or shared voting power and shared dispositive power over 32,892,174 shares. Under the Issuer’s Joint Prepackaged Chapter 11 Plan of Reorganization, Wolfspeed holds the REA Reserve Shares in reserve for REA; until certain regulatory approvals are received, REA may direct sales of these shares and receive the cash proceeds, while not exercising voting power over them.

Wolfspeed (WOLF) reported Q1 FY26 results and emerged from Chapter 11. Revenue was $196.8 million, roughly flat year over year, but the company posted a net loss of $643.6 million and a gross loss of $77.1 million. Operating loss was $161.4 million, and reorganization items totaled $503.8 million.

On September 29, 2025, Wolfspeed’s Plan became effective. All old common shares were canceled and 25,840,656 shares of new common stock were issued, with 73,030,424 additional shares reserved under the Plan. Management states the restructuring reduced total debt by approximately 70% compared to pre‑emergence levels.

The company put in place secured financing at emergence: $1.3 billion of New Senior Secured Notes maturing in 2030 and second‑lien notes (convertible and non‑convertible) maturing in 2031. Cash, cash equivalents and short‑term investments were $926.0 million as of September 28, 2025, and operating cash flow was $5.7 million. Power Products revenue rose to $131.8 million while Materials Products declined to $65.0 million.

Wolfspeed (WOLF): Voya Financial filed Amendment No. 2 to Schedule 13G reporting beneficial ownership of 3,328,538 shares of Wolfspeed common stock, representing 12.1% of the class as of the event date 10/31/2025.

Voya reports sole voting power over 498,974 shares and sole dispositive power over 3,328,538 shares, with no shared voting or dispositive power. The filing is made under Rule 13d‑1(b)(1)(ii)(G) as a parent holding company. Voya certifies the shares were acquired and are held in the ordinary course of business and not to change or influence control.

Voya Financial filed an amended Schedule 13G reporting a significant passive stake in Wolfspeed (WOLF). Voya beneficially owns 5,337,302 shares, representing 18.3% of the common stock as of 09/30/2025.

Voya reports sole voting power over 1,082,115 shares and sole dispositive power over 5,337,302 shares, with no shared voting or dispositive power. The filing certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

Wolfspeed (WOLF): Allianz Global Investors GmbH reported beneficial ownership of 1,590,274 shares of Wolfspeed common stock, representing 6.2% of the class as of 09/30/2025. The reporting person has sole voting power over 1,590,274 shares and no shared voting power, and reports no sole or shared dispositive power.

Allianz Income and Growth Fund holds 1,584,009 shares, or 6.1% of the class, and each investor in that fund has the right to receive or direct dividends or sale proceeds for those securities. The holder certifies the securities were acquired and are held in the ordinary course of business and not to change or influence control.

Wolfspeed (WOLF): Citigroup Inc. reported insider transactions on Form 4. The filing lists multiple trades in common stock and new cash‑settled total return swaps.

On 10/30/2025, purchases totaled 116,002 shares at a weighted average price of $26.12. On 10/31/2025, purchases were 24,773 shares at $26.67 and 53,530 shares at $27.46, and a sale of 194,423 shares at $26.18. Following these transactions, 2,585,507 shares were beneficially owned indirectly. The filing states holdings are through Citigroup Global Markets Inc. and Citibank, N.A.

Citibank, N.A. also entered two cash‑settled total return swaps on 10/30/2025 referencing 883,924 and 116,076 shares at an initial price of $26.12, with a final valuation date of June 24, 2026. The reporting person agreed to disgorge any statutory “profits” under Section 16(b).

Wolfspeed (WOLF): Initial ownership filing. Citigroup Inc. filed a Form 3 reporting indirect beneficial ownership of 2,585,625 shares of Wolfspeed common stock. The filing date of event is 10/30/2025.

The report also lists derivative positions held indirectly, including 2.5% Convertible Second Lien Senior Secured Notes due 2031 convertible into 20,928 shares at an exercise price of $12.2323, a short put option for 2,175 shares at $5 expiring 01/16/2026, and multiple cash-settled total return equity swaps: 271,492 shares at an initial price of $33.26 (final valuation 10/09/2030), 139,152 shares at $32.18 (10/11/2030), and two swaps for 1,025,351 and 134,649 shares at $30.85 (both final valuation 06/24/2026). Citigroup disclaims beneficial ownership except to the extent of its pecuniary interest.