Spirit Airlines won approval for a $475 million lifeline and a $150 million payment from its biggest aircraft lessor in court on Friday, as the struggling budget airline races to stabilize itself after its second bankruptcy since November. U.S. Bankruptcy Court for the Southern District of New York approved the $475 million in debtor-in-possession financing, a lifeline that bankrupt companies can use to continue operating, along with $150 million from AerCap and the rejection of 27 airplane leases. Spirit s ...

Wolfspeed (WOLF) stock jumped nearly 20% at market open today after the chipmaker confirmed that bankruptcy restructuring has reduced its overall debt load by a whopping 70%. The announcement arrives about a month after WOLF exited Chapter 11 bankruptcy that its chief executive, Robert Feurle, said positions the company to “move swiftly on its strategic priorities.” More News from Barchart Including today’s rally, Wolfspeed stock is trading up nearly 40% over the past five days. www.barchart.com Why D ...

[Music] Welcome back to NextGen Investing. It's now time to discuss Wolf Speed as this name has been on a run to put it lightly. We're now up 36% after rallying 1,700% yesterday.But joining us now to discuss more on this move is George Tillis, senior markets correspondent for the network. So George, overall financial restructuring of course coming out of Chapter 11 bankruptcy. Walk us through this story.All right. So, it's kind of complicated, but um you know, first off, you know, Wolfe speed, I've been fol ...

Key Points The company emerged from Chapter 11 after a major financial restructuring that reduced debt and interest costs. New equity replaces canceled legacy shares, leaving a smaller float and a reset capital structure. 10 stocks we like better than Wolfspeed › Shares of Wolfspeed (NYSE: WOLF) ripped higher today after the silicon carbide power-chip maker completed its court-supervised restructuring and emerged from Chapter 11 protection. The rally reflects relief that the balance sheet is now de ...

Key Points Wolfspeed is canceling its existing common stock and issuing shares of a new stock as part of its bankruptcy. Shareholders of its old stock will be severely diluted. Wolfspeed is slashing its debt, reducing payments by 60%. 10 stocks we like better than Wolfspeed › Shares of Wolfspeed (NYSE: WOLF) saw some unusual activity on Monday, appearing to finish the day up a whopping 1,686.78% as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 0.3% and 0.5%, respe ...

Core Viewpoint - Wolfspeed is undergoing a prepackaged bankruptcy process, which will significantly dilute the value for existing shareholders, leaving them with only 3% to 5% of the restructured company [4][13]. Company Overview - Wolfspeed specializes in silicon carbide technologies and is a developer and manufacturer of wide-bandgap semiconductors, focusing on silicon carbide and gallium nitride materials [6]. - The company aimed to become fully vertically integrated, leading to substantial capital expenditures, including a $5 billion facility in North Carolina and another in New York [8]. Financial Situation - Wolfspeed is expected to eliminate $4.6 billion in debt through the bankruptcy process, reducing annual interest expenses by approximately 60% [4]. - The company burned through $1.5 billion in cash during the first nine months of its current fiscal year, resulting in a gross margin of negative 17% [9]. - For fiscal year 2026, Wolfspeed anticipates generating $200 million in unlevered operating cash flow, but this figure excludes significant interest payments [11]. Market Dynamics - The recent stock rally is likely attributed to a short squeeze, as the stock has a high short interest and short sellers are covering their positions [2]. - The company has faced challenges in operational execution, particularly in meeting the demand from electric vehicle manufacturers, and has encountered aggressive pricing from Chinese competitors [7][9]. Management and Future Outlook - The appointment of Gregor van Issum as CFO is seen as a positive step for restructuring, but it does not change the unfavorable outlook for current shareholders [12][13]. - Wolfspeed's transition to 200mm wafers is expected to improve operating results, but the technological challenges associated with this transition pose risks [10].

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $413 million for Q4 2024 and a normalized FFO of $0.18 per share, with a full-year GAAP net loss of $2.4 billion and normalized FFO of $0.80 per share [38][39] - Impairments and adjustments related to Prospect's Chapter 11 bankruptcy impacted GAAP results, leading to a $415 million adjustment to normalized FFO in the quarter [39] Business Line Data and Key Metrics Changes - The company has seen improvements in hospital fundamentals, with admissions and surgical volumes growing, leading to better coverage across all asset types in the portfolio [21] - New operators added to the portfolio are expected to ramp up cash rent payments to an aggregate quarterly run rate of about $40 million by October 2026 [22][54] Market Data and Key Metrics Changes - In the U.K., private medical insurance utilization has reached an all-time high, benefiting Circle Health and Priory, which reported strong revenue and EBITDARM performance [31][32] - LifePoint Health has shown strong top-line growth driven by increased admissions, with Conemaugh Memorial reporting a 23% year-over-year increase in admissions [34] Company Strategy and Development Direction - The company executed approximately $3 billion in liquidity transactions in 2024, exceeding its $2 billion target, and issued over $2.5 billion in secured bonds to strengthen liquidity [10][11] - The company aims to continue executing its strategy with a focus on generating predictable rent payments and enhancing recoveries from the Prospect bankruptcy [19][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model, emphasizing the need for hospitals to access affordable capital to innovate and serve patients [16] - The company anticipates total annualized cash rent of more than $1 billion once new tenants are fully ramped, with debt maturities covered through 2026 [19] Other Important Information - The company has agreed to provide $25 million in funding to support Prospect during its bankruptcy proceedings, pending court approval [14] - The company has a diverse global portfolio of hospital real estate, which remains attractive to investors and operators [11] Q&A Session Summary Question: Can you provide additional color on Prospect? - The settlement agreement is subject to court approval, and MPT is treated as a secured creditor, with various resolutions being sought for the best financial results [63][64] Question: Are there any other asset sales currently being evaluated? - No other pending sales have been announced, but there are a couple of small sales still pending, totaling well under $100 million [68][70] Question: Are the new tenants cash flow positive before rent? - Most operators are cash flow positive at this point, with cash collections ramping up [74][75] Question: What led to the decline in Accordion Health Services coverage? - The decline is attributed to ongoing healthcare reform in Colombia, not operational issues [86][87] Question: What is the percentage of encumbered versus unencumbered assets? - Approximately $6 billion is encumbered, with the remainder being unencumbered [109] Question: Any expectations about collecting rent from co-off payments? - Significant exposure to co-off is expected to come in March and April [102]