US Department of War's Office of Strategic Capital commits $1.5B conditional loan to Wolfspeed

The Department of War's Office of Strategic Capital has committed a conditional $1.5 billion, 30-year loan to Wolfspeed to fund gallium nitride epitaxy upgrades and radiation-hardening development for U.S. silicon carbide manufacturing. Under the terms, Wolfspeed would issue VWAP-based warrants to the Department of War for up to 7.5% fully diluted equity. Wolfspeed shares rose 26% after hours.

Detected & updated continuously · Source: Nebula