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Apollo Backs Wolfspeed with $2B for Expansion, Boosting US Silicon Carbide Supply - Apollo Global Management (NYSE:APO), Wolfspeed (NYSE:WOLF)

A group of lenders led by Apollo Global Management Inc (NYSE: APO) provides up to $2 billion to Wolfspeed Inc (NYSE: WOLF) to support the latter's 

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Chip Maker Wolfspeed Secures $2B in Private Funding amid US Expansion Plans

The plans of chip maker Wolfspeed to expand into the United States may have just received a significant boost.

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Apollo Backs Wolfspeed with $2B for Expansion, Boosting US Silicon Carbide Supply

A group of lenders led by Apollo Global Management Inc (NYSE: APO) provides up to $2 billion to Wolfspeed Inc (NYSE: WOLF) to support the latter's expansion in the U.S. The financing makes $1.25 billion of cash immediately available to the company, with another $750 million for future drawing, Bloomberg cites familiar sources. Also Read: Wolfspeed Likely To Divulge Germany EV Plant Details Worth €2B To Bail Out Carmakers From Chip Crisis Apollo structured the financing as seven-year secured note

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Apollo Reportedly Leads $2B Private Financing for Semiconductor Firm Wolfspeed

The financing makes $1.25 billion of cash immediately available to the company, while another $750 million can be drawn later.

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Carbon Revolution Carbon Fiber Wheel Backlog More Than Doubles to $680 Million since Oct 2022

Total revenue forecast to grow from $28.5 million in calendar year 2022 to $90.1 million in 2024 for a compound annual growth rate of 78%. Tailwinds include new business awards and. | June 8, 2023

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