Skywater Technology Inc Stock Price, News & Analysis

SkyWater Technology (NASDAQ: SKYT) announced that its underwriter has fully exercised an option to purchase an additional $2.25 million of common stock at a public offering price of $9.00 per share. This brings the estimated net proceeds from the offering to approximately $15.8 million, intended for general corporate purposes, including operations and capital expenditures. The offering is set to close on or about November 17, 2022.

SkyWater Technology (NASDAQ: SKYT) has announced a $15.0 million public offering of its common stock, pricing shares at $9.00 each. The underwriter, Needham & Company, has a 30-day option to purchase an additional $2.25 million in shares. The company expects to receive approximately $13.7 million in net proceeds, which will be used for general corporate purposes, including operational funding and capital expenditures. The offering is projected to close around November 17, 2022.

SkyWater Technology (NASDAQ: SKYT) has initiated a registered public offering of its common stock. The company plans to offer shares at a public price, providing the underwriter a 30-day option to purchase additional shares. Proceeds from the offering will be directed towards general corporate purposes, including operational funding, debt repayment, and capital expenditures. Needham & Company serves as the sole book-running manager for this offering, which is backed by an effective shelf registration statement. This announcement does not constitute an offer to sell or a solicitation for purchase in restricted jurisdictions.

SkyWater Technology (NASDAQ: SKYT) reported record third-quarter revenues of $52.3 million, marking a 49% year-over-year increase and a 10% rise sequentially. Despite a net loss of $6.9 million, the company achieved an adjusted EBITDA of $3.8 million with a gross margin improvement to 15.8%. Key highlights include a $100 million Phase 2 Rad-Hard award and a $36 million grant in Florida. Looking ahead, SkyWater anticipates continued revenue growth in Q4, driven by key partnerships and ongoing developments in the semiconductor ecosystem.

SkyWater Technology (NASDAQ: SKYT) and BRIDG have successfully completed phase one of a DOD-funded Industrial Base Analysis and Sustainment program, establishing a domestic silicon interposer fabrication capability. This milestone supports the development of advanced electronic systems using silicon interposers, which enhance performance in heterogeneous integration applications. Elements from this phase will be applied in subsequent program phases to incorporate additional technologies. SkyWater aims to assist both government and commercial customers with interposer design and fabrication.

SkyWater Technology (NASDAQ: SKYT) has become a founding member of the Semiconductor Climate Consortium (SCC), which aims to reduce greenhouse gas emissions across the semiconductor industry. The SCC focuses on collaboration, transparency, and ambition—setting targets for net-zero emissions by 2050. This commitment aligns with the CHIPS for America Program and highlights SkyWater's dedication to sustainability and ESG initiatives.

SkyWater Technology (NASDAQ: SKYT) will disclose its third-quarter fiscal 2022 financial results on November 7, 2022, after market close, following which a management webcast is scheduled for 3:30 p.m. CST. This session will cover the company's financial performance. SkyWater specializes in semiconductor manufacturing and offers a Technology as a Service model, enabling customers in diverse markets like aerospace, automotive, and IoT to accelerate technology development. For the latest information, visit www.skywatertechnology.com.

SkyWater Technology (NASDAQ: SKYT) has announced a $12 million investment from the Department of Defense (DOD) to advance its 90 nm radiation-hardened (rad-hard) technology. This funding follows a previously announced investment of $27 million. The collaboration aims to enhance onshore production capabilities for strategic rad-hard electronics while developing an Early Access Program (EAP) for customers to evaluate improvements in circuit density, speed, power, and performance. SkyWater has partnered with Trusted Semiconductor Solutions and CAES to ensure successful qualification and productization of its RH90 process.

SkyWater Technology (NASDAQ: SKYT) hosted Congresswoman Betty McCollum and Under Secretary of Defense Heidi Shyu for a facility tour in Minnesota on October 7th. The meeting focused on the U.S. semiconductor industrial base and the impact of the CHIPS Act on microelectronics investments. SkyWater discussed its Department of Defense partnerships and the successful completion of a prototype project, which led to an additional $99M funding for productization. The company aims to enhance its rad-hard technology roadmap and support U.S. manufacturing with a unique Technology as a Service model.