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Wolfspeed shares surge 20% on news of $1.5 billion conditional loan from Department of Defense

Investing.com +1 ·

WOLF
WOLF Wolfspeed Inc
$31.37 -1.45%
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  1. 1Wolfspeed Inc. shares rose 20% in Wednesday after-hours trading.
  2. 2The Department of Defense announced a $1.5 billion conditional loan to Wolfspeed Inc.
  3. 3Wolfspeed Inc. will provide the Department of Defense the right to purchase 7.5% of its total outstanding shares.

So what's the key point?

The U.S. Department of Defense has decided to lend $1.5 billion to Wolfspeed. In exchange, the Department of Defense will receive the right to purchase 7.5% of the company's shares.

Source Investing.com +1 · View original ↗

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