SkyWater Technology, Inc. Prices IPO at $12.00-$14.00 Per Share (SKYT)

SkyWater Technology, Inc. (SKYT) expects to raise $75 million in an IPO on Wednesday, April 21st, IPO Scoop reports. The company will issue 5,800,000 shares at $12.00-$14.00 per share.

In the last twelve months, SkyWater Technology, Inc. generated $140.4 million in revenue and had a net loss of $19.7 million. SkyWater Technology, Inc. has a market cap of $479.2 million.

Jefferies, Cowen and Piper Sandler acted as the underwriters for the IPO.

SkyWater Technology, Inc. provided the following description of their company for its IPO: “We are a U.S. investor-owned, independent, pure-play technology foundry that offers advanced semiconductor development and manufacturing services from our fabrication facility, or fab, in Minnesota and advanced packaging services from our Florida facility. In our technology as a service model, we leverage a strong foundation of proprietary technology to co-develop process technology IP with our customers that enables disruptive concepts through our Advanced Technology Services for diverse microelectronics (integrated circuits, or ICs) and related micro- and nanotechnology applications. In addition to differentiated technology development services, we support customers with volume production of ICs for high-growth markets through our Wafer Services. The combination of semiconductor development and manufacturing services we provide our customers is not available to them from a conventional fab. In addition, following this offering, our status as a publicly traded, U.S.-based, U.S. investor-owned pure-play technology foundry with Defense Microelectronics Activity, or DMEA, Category 1A accreditation from the U.S. Department of Defense, or DoD, is expected to position us well to provide distinct, competitive advantages to our customers. These advantages include the benefits of enhanced IP security and easy access to a U.S. domestic supply chain.  “.

SkyWater Technology, Inc. was founded in 2017 and has 500 employees. The company is located at 2401 East 86th Street Bloomington, Minnesota 55425 and can be reached via phone at (952) 851-5200.

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