Wolfspeed completes $200M ‘at the market’ offering

Before the market opened, Wolfspeed (WOLF) announced that it completed the offering of shares of its common stock under its previously announced “at the market” offering program pursuant to a shelf registration statement filed with the SEC, dated December 9, 2024. Through the program, the company sold 27.79M shares of its common stock for gross proceeds of approximately $200M. Wolfspeed said it intends to use the net proceeds from the ATM Program to improve its capital structure, reduce leverage, and address outstanding maturities on its balance sheet. In afternoon trading, shares of Wolfspeed are up 30%.