Investing.com -- Wolfspeed (NYSE: WOLF ), a semiconductor device company, saw its shares rise by up to 20% after it reported the sale of its common stock shares through a previously announced "at the market" offering program, bringing in gross proceeds of around $200 million.
The company sold a total of 27,793,535 shares of its common stock.
The net proceeds from this sale, according to a company release, are intended to enhance Wolfspeed's capital structure, reduce its leverage, and tackle outstanding maturities on its balance sheet.
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