Wolfspeed announces $750m in proposed funding from u.s. chips act and additional $750m from investment group led by apollo, galvanizing global leadership in delivering next-generation silicon carbide technology

Durham, n.c.--(business wire)--today, the u.s. department of commerce and wolfspeed (nyse: wolf) announced they have signed a non-binding preliminary memorandum of terms (pmt) for up to $750 million in proposed direct funding under the chips and science act. in addition, a consortium of investment funds led by apollo, the baupost group, fidelity management & research company and capital group have agreed to provide wolfspeed an additional $750 million of new financing. together these invest.
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