Chipmaker Wolfspeed Reaches Agreement with Creditors, Plans Bankruptcy Filing
June 22 (Reuters) - Wolfspeed said on Sunday that it has reached a restructuring agreement with creditors and plans to file for bankruptcy in the U.S. in the near future.
The restructuring agreement would provide the struggling chipmaker with $275 million in fresh financing by some of its existing creditors, the company said in its statement.
Wolfspeed shares sank 10.8 in overnight trading.
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