Wolfspeed, Inc. (formerly Cree, Inc.) is a leading global supplier of silicon carbide (SiC) and gallium nitride (GaN) materials and power devices, serving the electric vehicle, renewable energy, industrial, and defense markets from manufacturing facilities in North Carolina, New York, and Arkansas. The Durham-based NYSE-listed company (ticker: WOLF) employed approximately 3,325 workers at filing. Founded in 1987 and rebranded to Wolfspeed in 2021, the company filed a prepackaged Chapter 11 case in Texas Southern on June 30, 2025 (Case No. 25-90163) before Judge Christopher M. Lopez. At filing, the company carried approximately $6.749 billion in funded debt, including $1.525 billion in senior secured notes, $3.097 billion in convertible notes, and $2.127 billion owed to Renesas Electronics. Operations continued under a cash collateral arrangement with adequate protection payments at 9.875% cash plus 4% PIK interest. The prepackaged plan was confirmed on September 8, 2025 and became effective September 29, 2025, eliminating approximately $4.6 billion in debt (69% reduction) and reducing annual interest expense from $400 million to $160 million. General unsecured creditors received 100% recovery. A final decree closed the case on December 29, 2025.