Savvy Trades and Investments

[researcher59]

WOLF (2.22) shares will be cancelled after the bankruptcy restructuring as per the 8K filing. New shares will be issued with former shareholders receiving only a 3% to 5% ownership interest.

WOLF could be a good short play ahead of the new share issuance.

8K -

As of the date of the Confirmation Order, there were 156,479,390 outstanding shares of Wolfspeed’s common stock, $0.00125 par value per share (the “Common Stock”). Under the Plan, on the Plan Effective Date, all of the Common Stock will be cancelled, and existing equity holders are expected to receive their pro rata share of 3.0% or 5.0% (depending on whether certain regulatory approvals have been obtained) of reorganized Wolfspeed’s new common equity (the “New Common Stock”) as of the Plan Effective Date, subject to dilution by the other issuances contemplated in the Plan.