[Wolfspeed Files For Chapter 11 Bankruptcy, Aims To Reduce Debt By 70%] Wolfspeed Has Filed For Chapter 11 Bankruptcy Protection, Citing Significant Debt And Slowing Demand In EV And Industrial Markets. The Chipmaker Had $1.3 Billion In Cash As Of The Third Quarter And Aims To Emerge From Bankruptcy By The End Of The Current Quarter, Expecting To Reduce Its Debt By Approximately 70%, Or Nearly $4.6 Billion. Wolfspeed Also Announced A Restructuring Agreement That Includes $275 Million In New Financing. The Company Stated It Is Continuing Normal Operations Throughout The Process.

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