Wolfspeed, Inc. has filed an 8-K report disclosing unaudited pro forma consolidated financial information. The filing details the financial impact of the company's prepackaged plan of reorganization, which became effective on September 29, 2025. The pro forma data reflects the adoption of fresh start accounting and the receipt of all required regulatory approvals on January 29, 2026.
The pro forma financial statements are provided for informational purposes only and are not necessarily indicative of future results. They present the company's unaudited consolidated statements of operations for the year ended June 28, 2026, as if the reorganization events had occurred on June 30, 2025.
The restructuring plan involved the cancellation of all outstanding shares of Old Common Stock and the issuance of New Common Stock. Existing equity holders received approximately 1,306,896 shares of New Common Stock. Additionally, Renesas Electronics America Inc. received 16,852,372 shares of New Common Stock and a warrant to purchase up to 4,943,555 shares at an exercise price of $23.95 per share.
Debt restructuring included the issuance of $1.3 billion in principal amount of New Senior Secured Notes due 2030. Senior Secured Note claimholders also received a payment of $308.5 million from the redemption of $277.5 million in Existing Senior Secured Notes at a redemption price of 109.875%. Convertible Notes claimholders received rights to participate in a rights offering for New 2L Convertible Notes and approximately $296.4 million in New 2L Takeback Notes.
The company terminated its existing indentures governing the 2026 Notes, 2028 Notes, 2029 Notes, and Existing Senior Secured Notes. A total of approximately 43,564,315 shares of New Common Stock were issued, inclusive of shares issued to existing holders and Renesas.
