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01.12.25 - 14:06
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Wolfspeed Receives $698.6 Million in Section 48D Cash Tax Refunds from IRS (Business Wire)
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Strengthens Liquidity Position Amidst Execution of Long-Term Strategic Plan to Capitalize in Key Growing Segments Including AI Data Centers, Aerospace and Defense and Industrial and Energy
DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technology and production, today announced that it has received $698.6 million in cash tax refunds from the Internal Revenue Service (IRS) from the Advanced Manufacturing Investment Credit (AMIC) under Section 48D of the Internal Revenue Code. The refund represents a significant step in the monetization of the approximately $1 billion of Section 48D cash tax refunds accrued from the AMIC. In fiscal 2025, the Company received $186.5 million in cash tax refunds related to its fiscal 2023 and fiscal 2024 federal tax filings.
Following receipt of these funds, Wolfspeed's cash balance is approximately $1.5 billion, positioning the Company with enhanced financial flexibility as it advances the ramp of its 200mm silicon carbide man...
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