SkyWater Technology, Inc (SKYT): M&A transaction — SkyWater completes $93M acquisition of Infineon's Austin 200mm fab, secures $350M credit facility

SkyWater Technology, Inc

Closed acquisition of Spansion Fab 25 LLC (Infineon 200mm fab) for ~$93M cash on June 30, 2025.
Amendment increased base purchase price by $18M and eliminated a $25M supply agreement payment.
Entered $350M revolving credit facility with Siena, BSP, GRC, Ares, maturing 2030, to refinance and fund acquisition.
Loan carries SOFR-based rates; requires $10M minimum EBITDA and liquidity of $70M after sale-leaseback.
Financial statements for acquired business to be filed by amendment no later than September 16, 2025.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SkyWater Technology, Inc incurred revolving credit of $350 million with Siena Lending Group LLC (as agent) at term SOFR loan rate ... plus applicable margin ranging from 5.0% to 4.0% per ann maturing June 30, 2030.

Instrument: revolving credit
Principal: $350 million
Counterparty: Siena Lending Group LLC (as agent)
Rate: term SOFR loan rate ... plus applicable margin ranging from 5.0% to 4.0% per ann
Maturity: June 30, 2030
Event: incurrence

Exact text from the filing

The Loan Agreement provides for a revolving line of credit of up to $350 million with scheduled maturity date of June 30, 2030.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SkyWater Technology, Inc completed an acquisition involving Spansion LLC for approximately $93 million (closed 2025-06-30).

Action: acquisition
Counterparty: Spansion LLC
Consideration: approximately $93 million
Closing: 2025-06-30

Exact text from the filing

the Transaction in accordance with the terms and conditions of Purchase Agreement, as amended by the Amendment. The purchase price for the Transaction was approximately $93 million, all of which was paid in cash at the closing of the Transaction, comprised of a base purchase price of $73 million plus a payment for working capital of approximately $20

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SkyWater Technology, Inc filing history →

Source: SEC EDGAR

accession 0001193125-25-155467

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