Wolfspeed $750 million convertible senior notes offering
The convertible notes are due 2028
Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Wolfspeed, Inc. of $750 million aggregate principal amount of its 0.25% convertible senior notes due 2028, which includes the full exercise of the initial purchasers’ option to purchase additional notes. Davis Polk also advised the counterparties to capped call transactions entered into in connection with the offering.
Headquartered in Durham, North Carolina, Wolfspeed, Inc. is an innovator of wide bandgap semiconductors, focused on silicon carbide and gallium nitride (GaN) materials and devices for power and radio-frequency applications. The company’s silicon carbide and GaN materials and devices are targeted for applications such as transportation, power supplies, inverters and wireless systems.
The Davis Polk corporate team included partner Derek Dostal and counsel John H. Runne. The equity derivatives team included partner Mark M. Mendez, counsel Justin Michael and Katharine O’Banion and associates Lindsey B. Meyers-Perez and Alexander S. Pettingell. Partner Lucy W. Farr and associate Ben Levenback provided tax advice. All members of the Davis Polk team are based in the New York office.