"The group's commitment to Wolfspeed further validates the importance of silicon carbide to the global energy transition," said, president and chief executive officer of Wolfspeed. "This important step in our financing provides significant capital to scale up near-term operations at our Mohawk Valley Fab and construction of our Siler City materials facility to help us capture the growing silicon carbide market opportunity. The financing positions Wolfspeed to continue to lead the growth of the industry and focus on the execution of our vertically integrated strategy to meet growing demand." Read More About Fintech Interview: "Our agreement with Apollo and its capital partners achieves our near-term funding targets while prioritizing our shareholders with a new, non-dilutive source of financing," said Neill Reynolds, chief financial officer of Wolfspeed.