Wolfspeed is trading at $33.37, up 6.38%, after a conditional, 30-year commitment for up to $1.5 billion in financing from the Department of War’s Office of Strategic Capital.
- Announced after Wednesday’s close, the funding would support domestic semiconductor production and is subject to due diligence, approvals and final agreements.
- Reuters reported shares surged 27% in extended trading. At 9:35 a.m. ET on October 8, shares had opened at $35.93.