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Skywater Technology Expands Borrowing Capacity By Closing New $100 Million Senior Secured Revolving Credit Facility

Jan 04, 2023•over 2 years ago

Amount Raised

$100 Million

BloomingtonManufacturing

Description

SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced the signing of a new $100 million three-year senior secured revolving credit facility that expands the company’s available borrowing capacity. The new credit facility contains an accordion feature that allows the company to increase the size of the facility by up to $30 million, subject to certain conditions, for a total potential borrowing capacity of up to $130 million. The facility was jointly arranged by Siena Lending Group LLC (“Siena”) and Great Rock Capital (“Great Rock”), leading asset-based lending companies. Concurrently with the closing of the new facility, SkyWater terminated its existing senior credit facility with Wells Fargo.

Company Information

Company

Fab 25

Location

Bloomington, Minnesota, United States

About

SkyWater (NASDAQ: SKYT) is a U.S. investor-owned semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a ServiceSM model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, power management, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit: www.skywatertechnology.com.

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