Wolfspeed today announced that the Committee on Foreign Investment in the United States (CFIUS) has formally cleared its equity issuance to Renesas Electronics America, marking the final milestone in the court-approved, prepackaged Chapter 11 restructuring. Under the agreement, Renesas converted its outstanding unsecured loan into 16,852,372 newly issued shares and secured convertible debt, and will join Wolfspeed’s Board of Directors with the appointment of Renesas VP of Finance Aris Bolisay. Concurrently, Wolfspeed released the remaining 2% equity recovery—871,287 shares—to legacy pre-petition equity holders, completing the full 5% recovery tranche outlined in the restructuring plan. These issuances bring total common shares outstanding to approximately 45.1 million, including prior conversions of second-lien convertible notes totaling ~1.5 million shares.

Wolfspeed has introduced its new TOLT (TO-Leaded, Top-Side Cooled) package family, built on its Gen 4 silicon carbide MOSFET technology, to address the surging power density and thermal management needs of AI and hyperscale datacenters. Engineered for 650 V operation, TOLT enables direct top-side heat dissipation, allowing OEMs to design more compact, efficient power systems. Backed by Wolfspeed’s U.S.-based SiC wafer manufacturing, the portfolio provides supply-chain resilience and consistent performance at scale. A third top-side cooled portfolio is slated for release in H2 2026, further expanding Wolfspeed’s modular approach to high-power device packaging.