Wolfspeed’s prepackaged plan has been confirmed, and a later motion for a final decreeDkt. 11 indicates that the Wolfspeed Texas affiliate case is in its closing phase. The chapter 11 cases were filed on June 30, 2025 to implement a balance-sheet restructuring for the vertically integrated silicon-carbide manufacturer, following substantial manufacturing-expansion capital needs, negative adjusted EBITDA, and a heavily leveraged capital structure. At filing, Wolfspeed had approximately $6.749 billion in funded debt, comprising first-lien senior secured notes, several series of convertible notes, and Renesas customer-refundable-deposit loans, as described in the first-day declarationDkt. 5.