Wolfspeed (WOLF): Conditional $1.5B Pentagon loan comes with warrants for up to 7.5% of the company

Wolfspeed won a conditional commitment for up to $1.5B of 30-year financing from the US Department of War, with warrants for up to 7.5% of its fully diluted equity. Shares jumped after hours, but nothing is final: diligence and definitive agreements come first.

Sources

• Wolfspeed 8-K exhibit 99.1 (SEC)
• The Star (Reuters), Wolfspeed secures $1.5 billion conditional loan commitment from US defense department