Press Releases

SkyWater Technology Expands Borrowing Capacity by Closing New $100 Million Senior Secured Revolving Credit Facility

By Rocket55 |

BLOOMINGTON, Minn. – January 4, 2023 – 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.

SkyWater expects to use the new credit facility for general corporate purposes, which may include the funding of working capital or supporting internal growth initiatives. “We are very pleased with the completion of this debt facility and new partnership with Siena and Great Rock. This facility provides us with increased financial flexibility and liquidity that we believe will allow SkyWater to continue to grow. This new, larger facility is a reflection of our success over the past year as we have strengthened our credit profile,” said SkyWater Chief Financial Officer, Steve Manko.

“We welcome Siena and Great Rock as our new lending partners. By working closely together, we were able to tailor the structure of the credit facility according to our specific strategies and objectives. Access to additional financing adds to SkyWater’s other capital strategies, and we believe that it enhances our ability to support our continued rapid growth,” commented SkyWater President and CEO, Thomas Sonderman.

Siena Lending Group LLC served as Revolver Agent on the facility. Cowen and Company, LLC acted as Exclusive Financing Advisor to SkyWater. Ballard Spahr LLP served as legal counsel for the company.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. SkyWater’s Technology as a Service 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.

SkyWater Technology Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past, events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the offering and the intended use of proceeds. In some cases, you can identify forward-looking statements by words such as “intends,” “estimates,” “predicts,” “potential,” “continues,” “anticipates,” “plans,” “expects,” “believes,” “should,” “could,” “may,” “will”, “targets,” “projects,” “seeks” or the negative of these terms or other comparable terminology.

Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to: our goals and strategies; our future business development, financial condition and results of operations; our ability to continue operating our sole semiconductor foundry at full capacity; our ability to appropriately respond to changing technologies on a timely and cost-effective basis; our customer relationships and our ability to retain and expand our customer relationships; our ability to accurately predict our future revenues for the purpose of appropriately budgeting and adjusting our expenses; our ability to diversify our customer base and develop relationships in new markets; our expectations regarding dependence on our largest customer; the performance and reliability of our third-party suppliers and manufacturers; our ability to procure tools, materials, and chemicals amid industry-wide supply chain shortages; our ability to control costs, including our operating and capital expenses; the size and growth potential of the markets for our solutions, and our ability to serve and expand our presence in those markets; the level of demand in our customers’ end markets; our ability to attract, train and retain key qualified personnel in a competitive labor market; adverse litigation judgments, settlements or other litigation-related costs; changes in trade policies, including the imposition of tariffs; our ability to raise additional capital or financing; our ability to accurately forecast demand; changes in local, regional, national and international economic or political conditions, including those resulting from rising inflation and interest rates, a recession, or intensified international hostilities; the impact of the coronavirus 2019, or COVID-19, pandemic on our business, results of operations and financial condition and our customers, suppliers and workforce; the impact of the COVID-19 pandemic on the global economy; the level and timing of US government program funding; our ability to maintain compliance with certain U.S. Government contracting requirements; regulatory developments in the United States and foreign countries; our ability to protect our intellectual property rights; our ability to obtain additional capital and financing for our operations and the potential dilution and other impact to the holders of our common stock; our expectations regarding the completion of, and use of proceeds from, this offering; and other factors discussed in the “Risk Factors” section of the Annual Report on Form 10-K filed by SkyWater with the SEC on March 10, 2022, and in the other reports that SkyWater has, and will file from time to time with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Technology Announces Participation in the 25th Annual Needham Growth Conference

By Rocket55 |

BLOOMINGTON, Minn. – January 3, 2023 – SkyWater Technology (NASDAQ: SKYT)), the trusted technology realization partner, today announced that management is scheduled to participate in the 25th Annual Needham Growth Conference, taking place at the Lotte New York Palace Hotel next week. SkyWater’s presentation will be webcast live on Tuesday, January 10th at 3:00pm EST. The presentation material utilized during the conference, as well as the live and archived webcast link of the presentation, will be made accessible on the investor page of the company’s website: https://ir.skywatertechnology.com.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. SkyWater’s Technology as a Service 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.

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

The MOSIS Service of the USC Information Sciences Institute and SkyWater Collaborate on Silicon IC Design Enablement and Manufacturing Service

By Rocket55 |

LOS ANGELES, Calif. and BLOOMINGTON, Minn. – Nov. 29, 2022 – The MOSIS Service of the Information Sciences Institute, University of Southern California and SkyWater Technology (NASDAQ: SKYT), today announced a collaboration to enable design-to-manufacturing for integrated circuit (IC) prototyping and production utilizing SkyWater’s CMOS process technologies. The MOSIS Service will provide multi-project wafer (MPW) shuttle access to SkyWater’s S90 and S130 mixed-signal CMOS technologies.

The collaboration enables The MOSIS Service to provide customers with the ability to leverage SkyWater foundry strengths throughout the design cycle. In its role as a technical representative of the foundry, The MOSIS Service enables design verification so customers can meet project milestones and tapeout sign-off goals. MOSIS provides help with design tasks ranging from PDK utilization, EDA tools, RTL-to-GDS, IP, block-level and chip-level physical verification, and tapeout closure. MOSIS’ support allows design teams to focus on implementing their design ideas while achieving successful tapeouts on time and with high quality.

The MOSIS Service also has expert knowledge on packaging substrate design and the technical management of packaging vendors. These services add value to the PDK and manufacturing capacities of SkyWater. MOSIS and SkyWater envision new and significant services to the microelectronics community, leading to innovative, start-up design organizations that will successfully achieve chip production through the SkyWater-MOSIS project flows.

“With SkyWater being an important driver of electronic innovation and resurgence of U.S. technological leadership, we are pleased to join the effort. The MOSIS Service has enabled the fabless design model and added significant value to the community for more than 40 years. We are confident in the fruitful outcome of this collaboration,” said Craig Knoblock, Keston Executive Director of USC’s Information Sciences Institute. “SkyWater has an outstanding customer portfolio ranging across military electronics, automotive, IoT, bioelectronics, and others. MOSIS has a long-term customer base of defense, academic, and consumer electronics. We believe customers from the community will enjoy the support coming with this partnership soon.”

“We are excited to launch projects with SkyWater Technology,” said Lifu Chang, director of The MOSIS Service. “SkyWater is the commercial foundry that offers such a wide variety of manufacturing capabilities for electronic devices across different substrate materials. SkyWater provides PDK files suitable for designs with device and process options, such as non-volatile memory and advanced packaging, and has therefore enabled many different chip functions and integrations. The MOSIS Service has started the collaboration with the mixed-signal CMOS 130nm and 90nm processes. Our tightly integrated collaboration will support our customers’ projects.”

SkyWater’s Chief Technology Officer Steve Kosier, said, “This collaboration enhances the technical offerings from both SkyWater and MOSIS in both breadth and depth. We plan to rapidly expand our fab facilities with the national focus on expediting domestic electronics design-to-manufacturing based on our technology foundation. We envision many new projects coming from the defense industry base and other market segments.”

Kosier added, “SkyWater expects an increasing need for design enablement and support for these projects. We are pleased to partner with MOSIS at this critical time. We are confident that our customers will enjoy the services and experience MOSIS brings to the IC design value stream when accessing SkyWater technologies.”

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. 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.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

 

MOSIS Company Contact: Lifu Chang | 310.448.9106 | lchang@mosis.com
MOSIS Media Contact: Magali Gruet | 310.448.8690 | mgruet@isi.edu
SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Technology Announces Participation in 11th Annual NYC Summit

By Rocket55 |

BLOOMINGTON, Minn. – November 17, 2022 – SkyWater Technology (NASDAQ: SKYT)), the trusted technology realization partner, today announced management’s participation in the 11th Annual NYC Summit, being held Tuesday, December 13th at Mastro’s New York.

The presentation material utilized during the NYC Summit will be made accessible on the events page of the company’s website at https://ir.skywatertechnology.com.

About the 11th Annual NYC Summit

The NYC Summit is collectively hosted and funded by participating companies and features a “round-robin” format consisting of small group meetings with company management teams. During the event, investors and analysts will have the opportunity to meet with the majority of the 12 management teams during the small group meeting sessions, as well as opportunities to meet with management during the breakfast and lunch networking sessions.

The 12 management teams collectively hosting the 11th Annual NYC Summit 2022 include: ACM Research (ACMR), Advanced Energy (AEIS), Aehr Test (AEHR), Alpha & Omega Semiconductor (AOSL), Axcelis (ACLS), FormFactor (FORM), Ichor Systems (ICHR), inTEST (INTT), Intevac (IVAC), Kulicke & Soffa (KLIC), Onto Innovation (ONTO), and SkyWater Technology (SKYT). Both Cowen and Stifel are sponsors of the conference.

Attendance at the NYC Summit is by invitation only and is available solely to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Last day for registration is December 1, 2022.

RSVP Contacts for 11th Annual NYC Summit 2022

To RSVP for the NYC Summit, please contact either of the Summit’s co-chairs:

Laura J. Guerrant-Oiye                          Claire E. McAdams
Aspen Aerogels                                       Headgate Partners LLC
Phone: (508) 826-4573                          Phone: (530) 265-9899
Email: loiye@aerogel.com                     Email: claire@headgatepartners.com

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. 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.

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Announces Pricing of Common Stock Offering

By Rocket55 |

BLOOMINGTON, Minn. – November 14, 2022 – SkyWater Technology (NASDAQ: SKYT) (the “Company” or “SkyWater”) announced today that it has priced a public offering of $15.0 million of shares of its common stock at a price of $9.00 per share. The underwriter has a 30-day option to purchase up to $2.25 million of additional shares of SkyWater’s common stock at the public offering price of the common stock, less underwriting discounts and commissions.

The Company estimates that it will receive net proceeds of approximately $13.7 million from this offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by it and assuming the underwriter does not exercise its option to purchase additional shares. The Company intends to use the net proceeds from this offering primarily for general corporate purposes, which may include, among other things, funding of operations, repayment of indebtedness, additions to working capital and/or capital expenditures. The offering is expected to close on or about November 17, 2022, subject to the satisfaction of customary closing conditions.

Needham & Company is acting as sole book-running manager for the common stock offering. A shelf registration statement on Form S-3 (File No. 333-266981) relating to the offering of the securities described above was filed with the Securities and Exchange Commission (the “SEC”) on August 19, 2022 and declared effective by the SEC on September 1, 2022. The shares may be offered only by means of a prospectus forming a part of the Company’s effective shelf registration statement, related prospectus supplement and other related documents. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may also be obtained, when available, by contacting Needham & Company, Attention: Prospectus Department, 250 Park Avenue, New York, New York 10177, telephone: 800-903-3268 or email: prospectus@needhamco.com. Before you invest in our common stock, you should read the prospectus supplement and accompanying prospectus, along with other documents that the Company has filed with the SEC, for more complete information about the Company and the common stock offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. 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.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past, events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the offering and the intended use of proceeds. In some cases, you can identify forward-looking statements by words such as “intends,” “estimates,” “predicts,” “potential,” “continues,” “anticipates,” “plans,” “expects,” “believes,” “should,” “could,” “may,” “will”, “targets,” “projects,” “seeks” or the negative of these terms or other comparable terminology.

Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to: our goals and strategies; our future business development, financial condition and results of operations; our ability to continue operating our sole semiconductor foundry at full capacity; our ability to appropriately respond to changing technologies on a timely and cost-effective basis; our customer relationships and our ability to retain and expand our customer relationships; our ability to accurately predict our future revenues for the purpose of appropriately budgeting and adjusting our expenses; our ability to diversify our customer base and develop relationships in new markets; our expectations regarding dependence on our largest customer; the performance and reliability of our third-party suppliers and manufacturers; our ability to procure tools, materials, and chemicals amid industry-wide supply chain shortages; our ability to control costs, including our operating and capital expenses; the size and growth potential of the markets for our solutions, and our ability to serve and expand our presence in those markets; the level of demand in our customers’ end markets; our ability to attract, train and retain key qualified personnel in a competitive labor market; adverse litigation judgments, settlements or other litigation-related costs; changes in trade policies, including the imposition of tariffs; our ability to raise additional capital or financing; our ability to accurately forecast demand; changes in local, regional, national and international economic or political conditions, including those resulting from rising inflation and interest rates, a recession, or intensified international hostilities; the impact of the coronavirus 2019, or COVID-19, pandemic on our business, results of operations and financial condition and our customers, suppliers and workforce; the impact of the COVID-19 pandemic on the global economy; the level and timing of US government program funding; our ability to maintain compliance with certain U.S. Government contracting requirements; regulatory developments in the United States and foreign countries; our ability to protect our intellectual property rights; our ability to obtain additional capital and financing for our operations and the potential dilution and other impact to the holders of our common stock; our expectations regarding the completion of, and use of proceeds from, this offering; and other factors discussed in the “Risk Factors” section of the Annual Report on Form 10-K filed by SkyWater with the SEC on March 10, 2022, and in the other reports that SkyWater has, and will file from time to time with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Announces Offering of Shares of Common Stock

By Rocket55 |

BLOOMINGTON, Minn. – November 14, 2022 – SkyWater Technology (NASDAQ: SKYT) (the “Company” or “SkyWater”) announced today that it has commenced a proposed underwritten registered public offering of its common stock. SkyWater expects to grant the underwriter a 30-day option to purchase additional shares of its common stock at the public offering price of the common stock, less underwriting discounts and commissions.

The Company intends to use the net proceeds from this offering primarily for general corporate purposes, which may include, among other things, funding of operations, repayment of indebtedness, additions to working capital and/or capital expenditures.

Needham & Company is acting as sole book-running manager for the common stock offering. A shelf registration statement on Form S-3 (File No. 333-266981) relating to the offering of the securities described above was filed with the Securities and Exchange Commission (the “SEC”) on August 19, 2022 and declared effective by the SEC on September 1, 2022. The shares may be offered only by means of a prospectus forming a part of the Company’s effective shelf registration statement, related prospectus supplement and other related documents. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may also be obtained, when available, by contacting Needham & Company, Attention: Prospectus Department, 250 Park Avenue, New York, New York 10177, telephone: 800-903-3268 or email: prospectus@needhamco.com. Before you invest in our common stock, you should read the prospectus supplement and accompanying prospectus, along with other documents that the Company has filed with the SEC, for more complete information about the Company and the common stock offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. 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.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past, events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the offering and the intended use of proceeds. In some cases, you can identify forward-looking statements by words such as “intends,” “estimates,” “predicts,” “potential,” “continues,” “anticipates,” “plans,” “expects,” “believes,” “should,” “could,” “may,” “will”, “targets,” “projects,” “seeks” or the negative of these terms or other comparable terminology.

Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to: our goals and strategies; our future business development, financial condition and results of operations; our ability to continue operating our sole semiconductor foundry at full capacity; our ability to appropriately respond to changing technologies on a timely and cost-effective basis; our customer relationships and our ability to retain and expand our customer relationships; our ability to accurately predict our future revenues for the purpose of appropriately budgeting and adjusting our expenses; our ability to diversify our customer base and develop relationships in new markets; our expectations regarding dependence on our largest customer; the performance and reliability of our third-party suppliers and manufacturers; our ability to procure tools, materials, and chemicals amid industry-wide supply chain shortages; our ability to control costs, including our operating and capital expenses; the size and growth potential of the markets for our solutions, and our ability to serve and expand our presence in those markets; the level of demand in our customers’ end markets; our ability to attract, train and retain key qualified personnel in a competitive labor market; adverse litigation judgments, settlements or other litigation-related costs; changes in trade policies, including the imposition of tariffs; our ability to raise additional capital or financing; our ability to accurately forecast demand; changes in local, regional, national and international economic or political conditions, including those resulting from rising inflation and interest rates, a recession, or intensified international hostilities; the impact of the coronavirus 2019, or COVID-19, pandemic on our business, results of operations and financial condition and our customers, suppliers and workforce; the impact of the COVID-19 pandemic on the global economy; the level and timing of US government program funding; our ability to maintain compliance with certain U.S. Government contracting requirements; regulatory developments in the United States and foreign countries; our ability to protect our intellectual property rights; our ability to obtain additional capital and financing for our operations and the potential dilution and other impact to the holders of our common stock; our expectations regarding the completion of, and use of proceeds from, this offering; and other factors discussed in the “Risk Factors” section of the Annual Report on Form 10-K filed by SkyWater with the SEC on March 10, 2022, and in the other reports that SkyWater has, and will file from time to time with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

Weebit Nano Receives from SkyWater Technology the First Silicon Wafers it Manufactured with Embedded Weebit ReRAM

By Rocket55 |

Major milestone toward commercialization of Weebit ReRAM at SkyWater lays groundwork for customers to confidently design innovative and highly differentiated SoCs

HOD HASHARON, Israel and BLOOMINGTON, Minn. – November 8, 2022 – Weebit Nano Limited (ASX:WBT), a leading developer of next-generation memory technologies for the global semiconductor industry, and SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, announce the first silicon wafers integrating Weebit’s embedded Resistive Random-Access Memory (ReRAM) module have been delivered to Weebit from SkyWater’s U.S. production fab.

This is the first time silicon wafers of Weebit ReRAM have been received from a production fab, a major milestone toward commercialization of the technology at SkyWater.

Manufacturing of Weebit ReRAM is now proven with standard tools and a mature process flow, making it easy for customers to adopt this innovative non-volatile memory (NVM) for development of their system-on-chip (SoC) designs. The silicon wafers will be sliced into chips, packaged, and then tested and qualified.

The chips, which were manufactured in SkyWater’s 130nm CMOS process, will be used for customer demonstrations, testing and prototyping ahead of commercial orders and volume production, allowing customers to confidently start designing SoCs using these ReRAM modules.

SkyWater’s 130 nm process has been used reliably for billions of devices made for automotive, industrial and consumer applications. The automotive-grade, extended temperature, mixed-signal CMOS platform is well suited for IoT and edge computing as it enables a combination of both digital and analog circuit performance with embedded NVM for a wide range of SoC architectures.

Coby Hanoch, CEO of Weebit Nano, said, “This is the first time we’ve received ReRAM wafers from a production fab – a huge milestone towards commercialization that has been achieved on-time through our close partnership with SkyWater. This increases the confidence of potential customers in our IP, pushing forward companies interested in engaging with us, and we’re seeing discussions with potential customers ramping up as we get closer to production. The demo chips produced by SkyWater integrating Weebit’s ReRAM module are enabling these companies to see the true advantages our technology can provide.”

SkyWater Chief Revenue Officer Mark Litecky said, “As part of our Technology-as-a-Service model, SkyWater works with customers to co-create solutions with innovative architectures, materials and approaches to integration. Weebit ReRAM is an exciting new NVM that customers across a broad array of markets can incorporate into their SoCs to achieve differentiation. We already see strong interest for the technology for applications including IoT, power management and mixed-signal ICs. Looking ahead, Weebit ReRAM is a rich building block for hybrid architectures that can be flexibly integrated in new and interesting ways – an exciting prospect for companies looking to bring innovative ideas to reality.”

The demo chips comprise a full sub-system for embedded applications, including the Weebit ReRAM module, a RISC-V microcontroller (MCU), system interfaces, memories and peripherals. Weebit’s embedded ReRAM module includes a 256Kb ReRAM array, control logic, decoders, IOs (Input/Output communication elements) and error correcting code (ECC). It is designed with unique patent-pending analog and digital smart circuitry running smart algorithms that significantly enhance the memory array’s technical parameters. It also supports an extended temperature range, 10 years’ data retention at high temperatures, fast access time, and extremely low standby power.

Full qualification of the highly integrated demo chips in SkyWater’s U.S. production fab is expected to be completed in the first half of 2023.

Weebit ReRAM IP is available in SkyWater’s 130nm CMOS process. SkyWater customers should contact their representative to learn more about how to get started on their design. For more information, visit: www.skywatertechnology.com/ip-partner-weebit-nano.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. 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.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

About Weebit Nano Limited
Weebit Nano Ltd. is a leading developer of next-generation semiconductor memory technology. The company’s ground-breaking Resistive RAM (ReRAM) addresses the growing need for significantly higher performance and lower power memory solutions in a range of new electronic products such as Internet of Things (IoT) devices, smartphones, robotics, autonomous vehicles, 5G communications and artificial intelligence. Weebit’s ReRAM allows semiconductor memory elements to be significantly faster, less expensive, more reliable and more energy efficient than those using existing Flash memory solutions. As it is based on fab-friendly materials, the technology can be quickly and easily integrated with existing flows and processes, without the need for special equipment or large investments. See www.weebit-nano.com and follow us on https://twitter.com/WeebitNano.

Weebit Nano and the Weebit Nano logo are trademarks or registered trademarks of Weebit Nano Ltd. in the United States and other countries. Other company, product, and service names may be trademarks or service marks of others.

For Weebit inquiries:

Investors
Eric Kuret, Automic Group | +61 417 311 335 | eric.kuret@automicgroup.com.au

Media – Australia
Tristan Everett, Automic Group | +61 403 789 096 | tristan.everett@automicgroup.com.au

Media – US
Jen Bernier-Santarini, Weebit Nano | +1 650-336-4222 | jen@weebit-nano.com

For SkyWater inquiries:

Company Contact: Tara Luther | +1 952.851.5023 | tara.luther@skywatertechnology.com
Media Contact: Lauri Julian | +1 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Reports Third Quarter 2022 Financial Results

By Rocket55 |

Record Quarterly Revenues Up 10% Sequentially and Nearly 50% Year-over-Year

BLOOMINGTON, Minn. – November 7, 2022 – SkyWater Technology (NASDAQ: SKYT) the trusted technology realization partner today announced financial results for the third quarter of 2022, ended October 2, 2022.

  • Total revenue of $52.3 million, up 49% year-over-year.
  • Net loss to shareholders of $6.9 million, or (13)% of revenue.
  • Adjusted EBITDA of $3.8 million, or 7.3% of revenue.

View the full Third Quarter Results on SkyWater Technology’s Investor Relations page: https://ir.skywatertechnology.com

SkyWater Investor Contact: Claire McAdams | claire@headgatepartners.com
SkyWater Media Contact: Lauri Julian | media@skywatertechnology.com

SkyWater Florida and BRIDG Complete Phase One of Government-Funded IBAS Interposer Technology Development Program

By Rocket55 |

Establishes capability to support bridge interposer fabrication to strengthen national security for critical emerging technologies

BLOOMINGTON, Minn. – November 3, 2022 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, and BRIDG, a not-for-profit, public-private-partnership for the fabrication of microelectronics, today announced completion of phase one of a DOD-funded Industrial Base Analysis and Sustainment (IBAS) technology development program. Through this program with BRIDG and imec, a world-leading research and innovation center in nanoelectronics and digital technologies, SkyWater has developed a baseline fabrication flow for silicon bridge interposers, which are increasingly used in heterogeneous integration applications.

The IBAS program’s goal is to establish a comprehensive domestic silicon interposer manufacturing capability, supporting several advanced electronic systems. Silicon interposers are used to integrate semiconductor devices into a highly compact and power efficient format, providing increased performance and capability. Versatile and compact, silicon interposers are quickly becoming one of the most popular choices for advanced packaging.

“Completing phase one of this IBAS program is a major milestone for BRIDG and its ecosystem of partners who are establishing capabilities to manufacture domestic, reliable, next-generation microelectronic systems utilizing advanced packaging solutions in an open foundry,” said Dr. John Allgair, BRIDG vice president of advanced systems integration. “As a U.S.-based advanced packaging hub, we look forward to continuing to drive domestic self-sufficiency and to supporting customers through our partnership with SkyWater.”

Elements of the phase one bridge interposer capability will also be used in subsequent phases of the silicon interposer development program, where through-silicon vias (TSV) and RF-enabling materials and devices will be incorporated. The technology is available to both government and commercial customers.

“We are excited to have the first phase of the development program complete. SkyWater and BRIDG can now support initial customer inquiries for the interposer design and fabrication. This is a significant step for the program, our site and our partnership with BRIDG,” said Dale Miller, SkyWater Florida vice president and general manager.

About BRIDG
BRIDG is a not-for-profit, public-private partnership specializing in digital, RF, and photonics silicon interposer technology development coupled with advanced packaging capabilities. As an ITAR-certified and DMEA trust-ready supplier, BRIDG offers R&D expertise and a 200mm microelectronics fabrication facility geared toward system miniaturization, device integration, hardware security, and product manufacturing key to aerospace, defense, automotive, telecommunications, medical, and the IoT/AI revolution. Supported by Osceola County, Florida High Tech Corridor Council, imec, Orlando Economic Partnership, TEL, SUSS, Siemens, and SkyWater Technology (Center for NeoVation operator), BRIDG provides the physical infrastructure and collaborative process to connect challenges and opportunities with solutions; “Bridging the Innovation Development Gap” making commercialization possible. Located at NeoCity—a 500-acre master-planned community of innovation in Florida—BRIDG is centrally located 20 minutes from Orlando International Airport and within a mile of Florida’s Turnpike. GoBRIDG.com.

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. 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.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

BRIDG Company/Media Contact: Gloria LeQuang | glequang@gobridg.com
SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com

SkyWater Becomes Founding Member of SEMI’s new Semiconductor Climate Consortium (SCC)

By Rocket55 |

SCC formed by companies across the semiconductor value chain to accelerate the industry’s reduction of greenhouse gas emissions

BLOOMINGTON, Minn. – November 1, 2022 – SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced its commitment as a founding member of SEMI’s new Semiconductor Climate Consortium (SCC), the first global collaborative of semiconductor companies focused on reducing greenhouse gas emissions across the value chain. The three pillars as set forth by the SCC include:

  • Collaboration – Align on common approaches, communications channels and technology innovations to continuously reduce greenhouse gas emissions.
  • Transparency – Issue annual progress reports on reductions in Scope 1, 2 and 3 greenhouse gas emissions.
  • Ambition – Set near- and long-term decarbonization targets with the aim of reaching Net Zero emissions by 2050.

According to Brian Lenihan, SkyWater’s VP of government relations, “This initiative aligns well with the Commerce Department’s implementation of the historic CHIPS for America Program with the goal of revitalizing domestic semiconductor research, development and manufacturing while being accountable to the American public. In doing so, the Commerce Department is interested in how the semiconductor industry is thinking about sustainability, climate and the environment. We believe the SCC will be critical in supporting sustainability efforts and results for decades to come.”

Founding members have affirmed their support of the Paris Agreement and its goal to address climate change. Through the SCC, SkyWater will be involved in the development of initiatives that prioritize environmental, social and governance (ESG) criteria.

“The SCC supports our greater sustainability vision – coexistence of technological innovation and climate mindfulness,” said C.J. Bonifas, SkyWater’s VP of quality, EHS and operational excellence. “Semiconductors are critical to our everyday modern lives. We look forward to collaboration with other member companies to co-create best practices for sustainability solutions to further mitigate the industry’s environmental impact.”

“I applaud SkyWater for its commitment to become a founding member of the Semiconductor Climate Consortium (SCC) and for its continued support of global sustainability efforts,” said Ajit Manocha, SEMI president and CEO. “Individually SEMI member companies have made tremendous strides on sustainability, but we need to pool industry resources to solve the difficult decarbonization challenges, and to meet tracking and reporting requirements across the value chain. The SCC members look forward to defining and prioritizing sustainability goals and to harness the collective energy of the global semiconductor supply chain to create solutions.”

About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DMEA-accredited Trusted supplier. 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.

SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

SkyWater Company Contact: Tara Luther | 952.851.5023 | tara.luther@skywatertechnology.com
SkyWater Media Contact: Lauri Julian | 949.280.5602 | lauri.julian@skywatertechnology.com