Wolfspeed (NYSE: WOLF) receives $698.6M IRS tax refund under AMIC program

Rhea-AI Filing Summary

Wolfspeed, Inc. reported that it has received $698.6 million in cash tax refunds from the Internal Revenue Service. The refunds relate to the Advanced Manufacturing Investment Credit established under Section 48D of the Internal Revenue Code, which is aimed at supporting advanced manufacturing investments.

This large cash inflow significantly boosts Wolfspeed’s liquidity and financial flexibility, which can help fund ongoing operations and capital projects without relying as heavily on external financing. The company disclosed this news via a press release that is included as an exhibit.

Positive

• Wolfspeed received $698.6 million in cash tax refunds from the IRS under the Advanced Manufacturing Investment Credit, materially strengthening its liquidity and financial flexibility.

Negative

• None.

Insights

Equity analyst

Wolfspeed gains a major liquidity boost from a $698.6M IRS tax refund.

Wolfspeed, Inc. has received $698.6M in cash tax refunds from the IRS under the Advanced Manufacturing Investment Credit created by Section 48D of the Internal Revenue Code. This is a direct cash inflow rather than a non-cash credit, which can immediately strengthen the company’s balance sheet.

Such a sizeable refund can support Wolfspeed’s capital-intensive manufacturing plans, reduce dependence on new debt or equity, and improve its capacity to absorb operating volatility. The refund is tied to the advanced manufacturing credit program, indicating Wolfspeed has made qualifying investments that align with U.S. policy support for domestic advanced manufacturing.

Investors will likely pay attention to how Wolfspeed allocates this additional cash across capital expenditures, debt management, and general corporate purposes, as later disclosures about capital plans and funding needs may show how durable this liquidity improvement is.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 1, 2025

WOLFSPEED, INC.

(Exact name of registrant as specified in its charter)

Delaware			001-40863			56-1572719
(State or other jurisdiction of incorporation)			(Commission File Number)			(I.R.S. Employer Identification Number)

4600 Silicon Drive
Durham			North Carolina			27703
(Address of principal executive offices)						(Zip Code)

(919) 407-5300

Registrant’s telephone number, including area code

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol			Name of each exchange on which registered
Common Stock, $0.00125 par value			WOLF			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

Item 7.01 Regulation FD Disclosure

On December 1, 2025, Wolfspeed, Inc. (the "Company") issued a press release announcing that it has received $698.6 million in cash tax refunds from the from the Internal Revenue Service (IRS) from the Advanced Manufacturing Investment Credit (AMIC) established under Section 48D of the Internal Revenue Code. The press release is attached as Exhibit 99.1 and incorporated into this report by reference.

The information included in this Current Report on Form 8-K under Item 7.01 and Exhibit 99.1 attached hereto is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filings.

Item 9.01 Financial Statements and Exhibits

(d)    Exhibits

			Exhibit No.						Description of Exhibit
			99.1						Press release dated December 1, 2025
			104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			WOLFSPEED, INC.
			By:						/s/ Melissa Garrett
									Melissa Garrett
									Senior Vice President and General Counsel

Date: December 1, 2025

FAQ

What did Wolfspeed (WOLF) announce in this 8-K?

Wolfspeed announced that it has received $698.6 million in cash tax refunds from the Internal Revenue Service related to the Advanced Manufacturing Investment Credit under Section 48D of the Internal Revenue Code.

How much cash did Wolfspeed (WOLF) receive from the IRS tax refund?

Wolfspeed reported receiving $698.6 million in cash tax refunds from the Internal Revenue Service under the Advanced Manufacturing Investment Credit program.

What is the source of Wolfspeed’s $698.6 million tax refund?

The $698.6 million cash tax refund comes from the Advanced Manufacturing Investment Credit (AMIC), which is established under Section 48D of the Internal Revenue Code.

How is this tax refund likely to affect Wolfspeed’s financial position?

Because the refund is paid in cash, the $698.6 million inflow should strengthen Wolfspeed’s liquidity and provide more flexibility to fund operations and capital projects.

How did Wolfspeed (WOLF) communicate the tax refund details to investors?

Wolfspeed disclosed the tax refund in a press release that is attached as Exhibit 99.1, and referenced that press release in this current report.