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Balyasny Asset Management and affiliates reported a significant ownership position in SkyWater Technology, Inc. They are deemed to beneficially own 3,122,552 shares of common stock, representing approximately 6.35% of the outstanding shares, based on 49,204,602 shares outstanding as of May 5, 2026.
The shares are held directly by Atlas Diversified Master Fund, Ltd., a client of Balyasny Asset Management L.P., while Balyasny Asset Management L.P., BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny each report sole voting and dispositive power over these shares through their respective control relationships.
SkyWater Technology reported strong top-line growth but remained unprofitable. For the quarter ended June 28, 2026, revenue rose 165% to $156.4 million, driven mainly by the SkyWater Texas (Fab 25) acquisition, which contributed $87.4 million of Wafer Services revenue, including $7.5 million of non-cash supply-agreement revenue. Gross profit increased to $35.2 million, yet higher operating and interest costs left a net loss attributable to SkyWater Technology of $6.4 million, improving from a $10.0 million loss a year earlier.
For the first six months of 2026, revenue reached $317.1 million versus $120.4 million in 2025, with a net loss attributable to SkyWater of $18.7 million. Cash and cash equivalents were $12.6 million, and the revolving credit facility had $192.3 million outstanding at an 8.0% rate with $50.0 million of remaining availability. Contract liabilities totaled $149.8 million, reflecting substantial prepaid and take‑or‑pay commitments. After quarter-end, IonQ completed its acquisition of SkyWater; each SkyWater share was converted into $15.00 in cash plus 0.4883 IonQ shares, the revolver was repaid, and the common stock was delisted from Nasdaq.
SkyWater Technology CFO Steve Manko reported issuer dispositions of SkyWater equity tied to its merger with IonQ. On July 31, 2026, 40,284 shares of SkyWater common stock were converted into the right to receive $15 in cash plus 0.4883 IonQ shares per share under the merger terms. In addition, 56,283 restricted stock units and stock options over 10,696, 19,416 and 27,646 underlying shares of SkyWater common stock were converted into corresponding IonQ equity awards based on an Equity Award Exchange Ratio, preserving their prior vesting and other conditions.
SkyWater Technology, LLC CEO Thomas Sonderman reported dispositions of SkyWater equity interests in connection with its merger with IonQ, Inc. At the Effective Time, 448,196 SkyWater common shares automatically converted into the right to receive $15 in cash plus 0.4883 IonQ share per share. In addition, 105,048 restricted stock units became IonQ restricted stock units, and SkyWater stock options, including 285,326 options at $14.00 and 93,109 options at $11.24, converted into options to purchase IonQ common stock under the Merger Agreement.
Christopher Hilberg, Chief Risk & Compl. Officer of SkyWater Technology, LLC, reported dispositions of SkyWater common stock, restricted stock units and stock options on July 31, 2026.
These awards were automatically converted under a merger agreement among SkyWater, IonQ, Inc. and merger subsidiaries, with each SkyWater common share converting into the right to receive $15 in cash plus 0.4883 shares of IonQ common stock, with corresponding IonQ equity awards for RSUs and options.
SkyWater Technology President and COO John Sakamoto reported issuer dispositions of SkyWater equity in connection with the consummation of a merger with IonQ. 53,399 SkyWater common shares converted into the right to receive $15 in cash plus 0.4883 IonQ common share per SkyWater share.
Additionally, 87,996 restricted stock units and option awards for 234,375, 58,908 and 55,919 SkyWater shares at exercise prices of $6.01, $10.14 and $10.03, respectively, were converted into IonQ-based equity awards using the Merger Agreement’s Equity Award Exchange Ratio and retaining their prior terms.
SkyWater Technology director Dennis J. Goetz reported dispositions of 23,713 shares of SkyWater common stock and 4,304 RSU-related shares pursuant to a merger agreement among SkyWater, IonQ and affiliates. At the Effective Time, each SkyWater share converted into the right to receive $15 in cash plus 0.4883 IonQ common shares, with cash paid in lieu of fractional shares, reflecting issuer-related merger consideration rather than open‑market sales.
Nancy Fares, a director of SkyWater Technology, reported dispositions of SkyWater common stock in connection with its merger with IonQ. She surrendered 43,501 common shares and 4,304 shares issued from vested restricted stock units. Each SkyWater share converted into the right to receive $15 in cash and 0.4883 shares of IonQ common stock, plus cash in lieu of fractional shares.
SkyWater Technology director Timothy E. Baxter reported two dispositions to the issuer of SkyWater Technology, Inc. common stock in connection with its merger transactions with IonQ. One entry covers 11,428 shares of common stock; a second covers 5,738 shares issued from vested restricted stock units. Under a Merger Agreement dated January 25, 2026, at the merger’s Effective Time each SkyWater share automatically converted into the right to receive $15 in cash plus 0.4883 shares of IonQ common stock, with cash paid in lieu of fractional IonQ shares.