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The Wall Street Journal noted that the manufacturer of silicone carbide chips had refused several plans of creditors to restructure its debt.
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Wolfspeed would plan to file a bankruptcy in a few weeks while it fights against increasing debt.
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The Wall Street Journal noted that the manufacturer of silicone carbide chip refused several plans by creditors to restructure his debt.
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The news sent Wolfpeed actions to a historic hollow.
Wolfspeed (WOLF) Craters actions on Wednesday, one day after a report that the manufacturer of silicone carbide chips in difficulty would file the bankruptcy “in a few weeks”.
The Wall Street Journal Tuesday afternoon that after the company rejected several creditors’ proposals to restructure its debt, Wolfpeed envisaged a plan to use the bankruptcy of chapter 11 in an acceptable manner for the majority of flows.
The company has undergone financial pressures for months, and this was exacerbated in March when the outgoing executive president Tom Warner warned that Wolfpeed could lose $ 750 million in subsidies and $ 1 billion in tax credits to which he expected under the Beets and Sciences Act of 2022.
Investigation contacted Wolfpeed to comment but did not receive an answer.
The news sent Wolfpeed actions to a lower every time on Wednesday morning, and they are now negotiating less than $ 1.
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