Wolfspeed cancels and exchanges common stock as part of Chapter 11 reorganization

SEC Filings

Published 09/29/2025, 03:33 PM 

Wolfspeed, Inc. (NYSE:WOLF), which carries a substantial debt burden of $6.7 billion and has been rapidly burning through cash according to InvestingPro data, announced Monday that all previously issued and outstanding shares of its common stock have been cancelled and exchanged as part of its court-approved Chapter 11 reorganization plan.

According to a statement based on the company’s SEC filing, existing common stockholders received their pro rata share of 1,306,903 new shares at an exchange ratio of 0.008352 per cancelled share. The exchange was executed in accordance with the plan confirmed by the United States Bankruptcy Court for the Southern District of Texas on September 8.

The filing also states that if certain regulatory milestones are achieved before a specified deadline, existing common stockholders will be eligible to receive an additional pro rata share of 871,287 shares, at an exchange ratio of 0.005568. If these conditions are met, the total distribution would amount to 2,178,190 shares, reflecting a consolidated exchange ratio of 0.013920. If the regulatory deadline passes without the milestones being met, the contingent shares will not be distributed.

Wolfspeed and its wholly owned subsidiary, Wolfspeed Texas LLC, filed voluntary petitions for Chapter 11 protection on June 30 to implement a prepackaged plan of reorganization. The Chapter 11 cases are being jointly administered in the Houston Division of the Southern District of Texas.

The company’s common stock continues to be listed on the New York Stock Exchange under the symbol WOLF.

This information is based on a press release statement contained in Wolfspeed’s Form 8-K filed with the Securities and Exchange Commission.

In other recent news, Wolfspeed, Inc. has announced the commercial release of its 200mm silicon carbide wafers, marking a significant step in its transition from silicon to silicon carbide technology. This development comes alongside the company’s successful court approval for its Plan of Reorganization, allowing it to emerge from Chapter 11 bankruptcy protection soon. The reorganization aims to reduce Wolfspeed’s debt by approximately 70%, a move supported by its creditors. Additionally, Wolfspeed has appointed Gregor van Issum as its new Chief Financial Officer, effective September 1, 2025, bringing over 20 years of semiconductor industry experience. This appointment follows the tenure of Interim CFO Kevin Speirits, who will remain with the company to assist with the transition. The bankruptcy filing, intended to reduce the company’s debt by $4.6 billion, has also affected its relationships with key partners, including Renesas Electronics Corp., which is listed among Wolfspeed’s top creditors. These developments reflect Wolfspeed’s strategic efforts to strengthen its financial position and leadership team.

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川普次子大喊：“快抄底加密资产！” 专家警告

 美国总统川普的次子艾瑞克·川普（Eric Trump）近日又在社群媒体高喊“快抄底加密资产！”这已不是他第一次喊盘，每逢比特币或以太币出现大幅回调，他总会站出来喊“逢低买进”。然而，过往纪录却显示，他的喊盘虽能短线拉抬人气，但多数时候仍难以改变随后的跌势，让投资人怀疑：“这真的能信吗？”

Eric Trump再喊快抄底　喊盘纪录多短线反弹

回顾今年2月，Eric Trump曾喊话“现在是增持ETH最佳时机”，当时价格约2,877美元，随后飙到3,732美元，帐面涨幅逼近三成。但仅两个月，以太币又在利空打击下重挫49%。同样的剧本在8月再度上演，他宣布加码1,860万美元的BTC与ETH，币价24小时内反弹7.3%，但一周后却下跌逾15%。

背后有川普家族版图

外界认为，Eric Trump的喊盘不仅仅是个人操作，而是川普家族庞大加密版图的延伸。透过 World Liberty Financial 与 American Bitcoin（ABTC），川普家族积极布局币圈。ABTC并购后挂牌那斯达克，股价一度从6.90美元狂飙到13.21美元，但最终又回落至6.40至6.80美元，显示高度波动。

川普家族加密版图庞大

Eric Trump甚至大胆预测，比特币2030年将涨到100万美元，并强调长线看好。但分析师警告，名人喊盘可能引发操纵疑虑，尤其是川普家族同时握有巨额仓位，又具备政治影响力，这样的言论更容易放大市场波动。

专家建议警惕名人喊盘

对一般投资人而言，名人喊话虽能刺激短线情绪，但真实绩效往往难以持久。专家提醒，切勿盲目追随明星喊盘，应依靠自身的资金控管与投资纪律，否则很可能“帮名人抬轿，自己却套牢”。

知名亿万富翁们正在购买的5只顶级人工智能股票

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亿万富翁投资经理之所以成为亿万富翁，通常是因为他们是优秀的投资者，这就是为什么有时注意这些投资经理的举动，看看你是否也想这样做是明智的。

让我们来看看亿万富翁们在第二季度购买的5只人工智能（AI）股票，看看它们是否能帮助你增加投资组合。

菲利普·拉方特：英伟达和博通

菲利普•拉方特（Philippe Laffont）经营着专注于科技的对冲基金Coatue Management。虽然拉方特可能不是一个家喻户晓的名字，但他为有钱有势的客户管理资金，其中包括亚马逊（Amazon）创始人杰夫·贝佐斯。

公开文件显示，这位亿万富翁在第二季度买入了两支顶级人工智能芯片股票，增持了英伟达（Nvidia）和博通（Broadcom）的股票。他增持了34%的英伟达股票，现在这些股票占他总投资组合的5%。他将博通的持仓增加了58%，目前占其总持仓的4.3%。

英伟达（Nvidia）预测，到2020年，人工智能基础设施支出可能会从6000亿美元攀升至4万亿美元，因此很容易理解拉方特看好人工智能芯片股的原因。英伟达显然是无可争议的领导者，并且一直是建立新的人工智能数据中心的最大受益者。考虑到该公司通过CUDA软件平台打造的宽广护城河，该公司的图形处理单元（gpu）很可能在未来很长一段时间内仍是支持人工智能工作负载的主要芯片。

然而，博通也通过帮助客户设计定制人工智能芯片，成为该领域的主要参与者。尽管英伟达的芯片很好，但客户并不想完全依赖这家芯片巨头，那些财力雄厚、正在建设大规模数据中心的公司越来越多地转向博通。虽然定制芯片缺乏gpu的灵活性，但它们通常可以为其设计的特定任务提供更高的性能和成本节约。

随着人工智能芯片需求的激增，英伟达和博通看起来都将成为长期的赢家。

斯坦利·德鲁肯米勒：台积电

斯坦利·德鲁肯米勒管理着杜肯家族办公室，这基本上意味着德鲁肯米勒变得如此富有，以至于他不再需要管理外部投资者的资金，而只是投资自己的钱。

德鲁肯米勒也投资了人工智能芯片，但他没有购买芯片设计公司的股票，而是增持了制造先进芯片的台积电（Taiwan Semiconductor Manufacturing）的股票。德鲁肯米勒增加了28%的头寸，使其在投资组合中的占比达到4.3%。

投资台积电的美妙之处在于，德鲁肯米勒不必挑选一家芯片赢家。台积电目前是唯一一家能够大规模生产高良率先进芯片的代工厂（这意味着每片晶圆只有少数缺陷芯片）。这使它成为每家芯片制造商的密切合作伙伴，并赋予它强大的定价权。

随着人工智能芯片需求的增长，以及机器人出租车和量子计算等新兴行业的潜力，台积电看起来是一个长期的赢家。

比尔·阿克曼：亚马逊和Alphabet

著名投资者比尔·阿克曼是潘兴广场资本管理公司的负责人。阿克曼一直对消费领域很感兴趣，他在人工智能领域的投资方式也与此大致相同。他在本季度对亚马逊（Amazon）进行了大笔投资，并加大了对Alphabet的投资。亚马逊是阿克曼的新投资，在他的投资组合中只占9%多一点，而他增持了Alphabet的股份，现在占他总持股的15%。

亚马逊和Alphabet都是云计算领域的领导者，它们的服务需求巨大。它们也都有自己的定制人工智能芯片，这有助于提高性能和降低成本。这个领域正在蓬勃发展，两家公司都在积极投资，以利用这个机会。

与此同时，两家公司也在部署人工智能来帮助推动其核心业务。亚马逊正在利用人工智能提高其电子商务业务的效率。这包括在其配送中心使用人工智能机器人，以及使用人工智能优化配送路线和改善供应链管理。它还利用人工智能来推动其快速增长的赞助广告业务。这一切都为其零售业务带来了强大的运营杠杆。

另一方面，Alphabet正在利用人工智能来推动其搜索业务。AI Overviews带来了更多的搜索查询，而且它刚刚开始在全球范围内推出新的AI Mode。此外，像Lens和Circle to Search这样的新功能也带来了更多的查询，其中许多都有商业目的（即用户搜索要购买的产品或服务）。凭借Chrome浏览器和Android操作系统以及庞大的全球广告网络，Alphabet拥有巨大的分销优势，完全可以从人工智能中获益。

总的来说，亚马逊和Alphabet看起来都是人工智能的长期赢家。

WDC stock | Uptrend

 

SNDK stock | D chart | Uptrend

 

Wyckoff Trading Method Webinar, October 22, 2013

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56,113 views Oct 24, 2013

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The ULTIMATE Wyckoff Trading Course

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The Wyckoff method is a trading methodology developed by Richard Wyckoff, who became a Wall Street superstar after obtaining a great success by observing the actions and footprints of large traders in the chart and tape. The Wyckoff method is based on ideas like supply and demand, cause and effect, effort and result, and a detail explanation of how a rising market reverses into a falling market and vice versa. There is a lot that goes on in the transition between trending markets. The Wyckoff method is a more flexible trading approach in comparison to the Elliott Wave theory, and it can be considered some sort of evolution of the Dow theory since it relies on the ideas of accumulation, distribution, and volume analysis in order to understand the market. In this trading course, you’ll find a clear introduction to the Wyckoff method. 0:00 Introduction 1:30 Origin of the Wyckoff Method 2:25 The Four Phases of Price Action 5:51 Intro to Fundamental Laws/Supply & Demand 13:52 Cause & Effect 15:02 Fast Reversal Patterns 17:13 Effort & Result 24:23 Accumulation/Distribution Processes 33:49 Logical Events 53:45 Phases 1:03:16 Structures 1:13:33 Predicting a Reversal 1:16:20 Structural Failure 1:17:07 How to Differentiate Accumulation & Distribution 1:20:27 Trading Approach 1:31:50 Examples 1:37:57 Conclusions 6 Secret Price Action Patterns:    • 6 SECRET Price Action Patterns  

Wyckoff Theory SIMPLIFIED

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Wyckoff Theory SIMPLIFIED.... Almost all 'Smart Money' trading is derived from an age old theory from the early 1900s... Created by trader & investor Richard Wyckoff. The Wyckoff theory uses supply & demand and market psychology to define different repeated market 'cycles': ✅ Accumulation ✅ Distribution ✅ Markup ✅ Markdown These phases show different levels of control in the battle between buyers & sellers, and understanding them will help you to take great trades & make more money trading. HOWEVER.... The standard Wyckoff theory trading patterns are overly complex & simply not needed to make money from the approach ~ so in this video I'm teaching you EVERYTHING you need to know about Wyckoff theory, and then simplifying it for you to get high reward trades without the complexity. This Simplified Wyckoff Theory will change the game for your trading! --- Chapters (Don't Skip Any Parts! You'll Miss Valuable Lessons!) 00:00 - What is Wyckoff? 03:41 - The Wyckoff Theory Cycles 06:27 - Wyckoff Schematics 08:32 - Simplifying Wyckoff Theory 12:49 - REAL Chart Examples 22:58 - Making Wyckoff Profitable with a Trading Strategy

How to Trade Like The Banks - Wyckoff Method Explained in 8 minutes

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Aerospace & Defense

FAA to let Boeing sign off on 737 Maxes, 787s after years of restrictions

Published Fri, Sep 26 202510:01 AM EDTUpdated An Hour Ago

Leslie Josephs@lesliejosephs

Key Points

• Boeing can sign off on some of its 737 Max and 787 Dreamliner planes before they’re handed over to customers, the FAA said Friday.
• The FAA had restricted Boeing in 2019 from issuing airworthiness certificates for its own planes in the wake of two fatal crashes of the company’s bestselling 737 Max aircraft.
• The change shows Boeing is winning more confidence from its regulator after years of safety and manufacturing crises.

• Boeing can sign off on some of its 737 Max and 787 Dreamliner planes before they’re handed over to customers, the Federal Aviation Administration said Friday, the latest sign the manufacturer is regaining confidence from its regulator after years of safety crises.

  The FAA stopped allowing Boeing to issue its own airworthiness certificates for 737 Max airplanes in 2019 after two fatal crashes. It made a similar decision for Boeing 787s in 2022 because of production defects. 

  Since the second Max crash, in March 2019, the FAA solely issued airworthiness certificates, which certify planes as safe to fly, for the Maxes. The FAA said that it and Boeing will issue the certificates on alternating weeks.

  “Safety drives everything we do, and the FAA will only allow this step forward because we are confident it can be done safely,” the FAA said in a statement. “This decision follows a thorough review of Boeing’s ongoing production quality and will allow our inspectors to focus additional surveillance in the production process.”

  Boeing didn’t immediately comment.

• The company has been working for years to move past a series of safety and manufacturing issues. A midair blowout of a door panel from one of its new 737 Max 9s in January 2024 set those plans back further, with the FAA capping production of the Maxes and increasing scrutiny of Boeing, a top U.S. exporter.

  “If Boeing requests a production rate increase, onsite FAA safety inspectors will conduct extensive planning and reviews with Boeing to determine if they can safely produce more airplanes,” the FAA said Friday.

  Boeing CEO Kelly Ortberg, who took the helm just over a year ago, has said the company is focused on stabilizing its production rate of its Maxes at 38 month, and he has expressed optimism about evaluating an increase beyond that with the FAA.

  “I feel pretty confident that we’ll be in a position here pretty soon to sit down with the FAA and go through what we call a capstone review, which is the process we go through to not just go through these [key performance indicators], but to look at our entire supply chain readiness, our continued production readiness and move forward with that,” he said at a Morgan Stanley investor conference earlier this month.

  Boeing shares were up about 4% Friday.