Wolfspeed announced that the Committee on Foreign Investment in the United States has formally cleared its issuance of 16,852,372 shares of common stock to Renesas Electronics America as part of the court-approved prepackaged Chapter 11 restructuring. This milestone fulfills the final regulatory requirement, allowing escrowed shares to be released and marking the end of Wolfspeed’s coordinated debt-for-equity conversion with its lender group. Renesas will also take a seat on Wolfspeed’s Board of Directors, appointing Aris Bolisay as its representative.

Concurrent with the Renesas equity release, Wolfspeed will distribute the remaining 871,287 shares—equal to a 2% allocation of common stock—to its legacy pre-petition equity holders. These shares complete the 5% total recovery under the restructuring plan, following an initial 3% distribution in September. This action restores full equity recovery for shareholders and removes any remaining restrictions on share transfers under the court-approved plan.

After issuing shares to Renesas, distributing the final 2% to pre-petition holders and accounting for roughly 1.5 million shares issued under prior second-lien convertible note conversions, Wolfspeed’s total common shares outstanding will increase to about 45.1 million. This figure excludes potential future issuances under existing convertible notes, warrants and long-term incentive plans.

Wolfspeed also unveiled its new TO-Leaded, Top-Side Cooled (TOLT) package built on Gen 4 MOSFET technology, engineered to boost power density and thermal performance in AI datacenter rack supplies. The 650 V portfolio, backed by U.S.-based silicon carbide wafer production, offers customers improved supply-chain resilience and enables more compact, efficient power systems. Wolfspeed plans to reveal a third top-side cooled package family in the second half of 2026.