Wolfspeed is trading at $35.93, up +14.54%, after announcing a conditional, up-to-$1.5 billion U.S. Department of War loan commitment to support domestic silicon-carbide and wide-bandgap power-device production.
- The company announced the proposed financing on October 7; it is long-term and remains conditional.
- Reuters reported shares surged 27% in extended trading after the announcement. Bloomberg reported the financing could include warrants allowing the government to buy up to 7.5% of Wolfspeed shares.