Everspin signs $40M IDIQ subcontract for Toggle MRAM RDT&E under Navy prime contract

EVERSPIN TECHNOLOGIES INC.

Total contract value $40M firm-fixed-price; 30-month period from April 2026 to November 2028.
Subcontract with Amentum Services Inc. under NSWC Crane prime contract for Microelectronics RDT&E.
Everspin to develop on-shore Toggle MRAM production capability and provide process technology/IP.
Milestone-based payments; termination for convenience only if NSWC Crane terminates prime contract, with cost reimbursement.
Option periods may be unilaterally exercised by Amentum; performance can be extended up to six months.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

EVERSPIN TECHNOLOGIES INC. entered into Subcontract Number S26-03-01 and a Statement of Work with Amentum Services Inc. valued at $40,000,000 (effective 2026-04-24).

Action: entry
Agreement: supply
Counterparty: Amentum Services Inc.
Value: $40,000,000
Effective: 2026-04-24

Exact text from the filing

On April 24, 2026, Everspin Technologies, Inc. (the “Company”) and Amentum Services Inc. (“Contractor”) entered into Subcontract Number S26-03-01 and a Statement of Work (collectively, the “Agreement”), structured as an IDIQ Subcontract with Firm Fixed Price Task Orders, in connection with the Microelectronics Research, Development, Test, and Evaluation (“RDT&E”) program under Prime Contract Number FA8075-18-D-0014

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Source: SEC EDGAR

accession 0001628280-26-028432

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