Wolfspeed, Inc. (NYSE: WOLF) has announced it has received a conditional loan commitment letter from the US Department of War (DoW), through its Office of Strategic Capital (OSC), for up to US$1.5 billion of long-term financing to support the domestic development and production of silicon carbide (SiC) materials and wide bandgap power devices, with an additional focus on US national security applications.
Latham & Watkins LLP advised Wolfspeed in the transaction with a corporate team led by partners Tad Freese, Haim Zaltzman, Bryan Monson, Elizabeth Oh, Richard Kim, Ryan Gold, and David Zaheer, with associate Claire Solimine.
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