[144] SkyWater Technology, Inc. SEC Filing

Rhea-AI Filing Summary

SkyWater Technology, Inc. (SKYT) submitted a Form 144 reporting a proposed sale of 1,000,000 common shares through Needham and Company on 08/27/2025 with an aggregate market value of $12,000,000. The filing lists 48,175,815 shares outstanding. The securities being offered were originally acquired in the company’s 04/21/2021 initial public offering (25,119,077 shares recorded as acquired by CMI Acquisition) and are held in direct ownership. The notice also discloses numerous recent sales by CMI Oxbow Partners, LLC and an individual, totaling multiple transfers between 05/27/2025 and 08/26/2025, including large blocks such as 756,516 shares on 08/26/2025.

Positive

• Full disclosure provided: broker, sale date, number of shares, aggregate market value and acquisition history are stated
• Securities originated from IPO: acquisition date and original holder (CMI Acquisition) are disclosed
• Multiple recent sales reported: transparent listing of prior dispositions with dates and gross proceeds

Negative

• Sizeable proposed sale: 1,000,000 shares representing approximately 2.1% of outstanding shares (48,175,815)
• Repeated disposals by same holder: multiple large blocks sold between 05/27/2025 and 08/26/2025, including 756,516 shares on 08/26/2025
• Potential near-term selling pressure: aggregate market value of the proposed sale is $12,000,000

Insights

Financial Analyst

TL;DR: Large registered holder intends to sell 1,000,000 shares (~2.1% of shares outstanding) for $12.0M, following multiple prior disposals.

The proposed transaction is significant in size relative to the 48,175,815 shares outstanding and follows a series of block sales by the same holder between 05/27/2025 and 08/26/2025. The securities originated from the 04/21/2021 IPO and are held as direct ownership, indicating these are non-derivative holdings being liquidated. The filing provides transparent broker details (Needham and Company) and a specific sale date, enabling market participants to quantify potential near-term selling pressure.

Corporate Governance Expert

TL;DR: Form 144 properly discloses intended sale and recent dispositions; raises governance questions about concentrated holder exits.

The notice meets Rule 144 disclosure requirements by identifying the broker, the class, acquisition origin (IPO on 04/21/2021), and multiple recent sales by CMI Oxbow Partners, LLC and an identified individual. From a governance standpoint, recurring large sales by a related holder could merit monitoring by stakeholders, though the filing itself contains no statement of undisclosed material adverse information and includes the required signature attestation.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Needham and Company LLC 250 Park Avenue, 10th Floor New York NY 10017	1000000	12000000.00	48175815	08/27/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	04/21/2021	Initial Public Offering	CMI Acquisition			25119077	04/21/2021	Direct Ownership

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
CMI Oxbow Partners, LLC 4450 Excelsior Blvd. STE 440 St Louis Park MN 55416	Common	05/27/2025	366418	3486656.56
Loren Unterseher 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	05/28/2025	86273	817868.04
CMI Oxbow Partners, LLC 4450 Excelsior Blvd, STE 440 St Louis Park MN 55416	Common	05/29/2025	200	1896.00
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	06/04/2025	5919	56112.12
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	06/06/2025	3144	29333.52
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	06/09/2025	17136	159983.41
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	06/10/2025	33640	314227.88
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	06/11/2025	67345	634477.45
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	06/12/2025	900	8196.03
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/12/2025	284796	3650352.07
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/12/2025	60969	781465.28
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/13/2025	287454	3553631.07
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/14/2025	217329	2560074.12
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/15/2025	5684	65281.88
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/18/2025	97957	1136379.57
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/21/2025	37979	423253.17
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/22/2025	292628	3359545.02
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/25/2025	243484	2873159.90
CMI Oxbow Partners, LLC 4450 Excelsior Blvd STE 440 St Louis Park MN 55416	Common	08/26/2025	756516	9111403.05

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for SkyWater Technology (SKYT) report?

The filing reports a proposed sale of 1,000,000 common shares through Needham and Company on 08/27/2025 with an aggregate market value of $12,000,000.

How many SkyWater shares are outstanding according to the filing?

The filing lists 48,175,815 shares outstanding.

When and how were the shares being sold originally acquired?

The securities were acquired in the 04/21/2021 IPO, with 25,119,077 shares recorded as acquired by CMI Acquisition and held as direct ownership.

Did the filer report recent sales before this proposed sale?

Yes; the filing lists multiple sales by CMI Oxbow Partners, LLC and an individual between 05/27/2025 and 08/26/2025, with amounts and gross proceeds for each transaction.

Which broker is named for the proposed sale of SKYT shares?

The broker listed is Needham and Company LLC, 250 Park Avenue, 10th Floor, New York, NY 10017.