Durham LED giant Cree (Nasdaq: CREE) just entered into a $500 million revolving line of credit with Wells Fargo Bank (NYSE: WFC), meaning capital in the coffers for future acquisitions.

Already, proceeds of the initial loans were used to repay amounts outstanding under Cree’s previous credit agreement with Wells Fargo, with the caveat that additional loans could be used for working capital or future acquisitions, according to a securities filing.

As of Sept. 28, Cree had $150 million in an unsecured…