FILE PHOTO: View of a Wolfspeed's Silicon Carbide (SiC) Wafer during an event on the future of the decommissioned coal-fired power plant in the Western German Saarland region in Ensdorf, Germany, February 1, 2023. REUTERS/Thilo Schmuelgen/File Photo
(Reuters) -Chipmaker Wolfspeed said on Monday it has exited Chapter 11 bankruptcy after cutting its total debt by nearly 70% and lowering annual cash interest expense by roughly 60%.
The company said it has sufficient liquidity to continue supplying customers with silicon carbide-based chips.
