secwatch.observer — SEC 8-K summary
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Issuer:     SkyWater Technology, Inc (SKYT)
CIK:        0001819974
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0001819974-23-000003
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SkyWater enters $100M revolving credit facility with Siena Lending, refinances $43.5M Wells Fargo debt
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- New $100M facility (expandable to $130M) with Siena Lending Group; matures Dec 28, 2025.
- Proceeds initially refinance $43.5M Wells Fargo debt; thereafter for working capital and equipment.
- Interest: SOFR + 6.25%-5.25% margin or base rate + 5.25%-4.25%; subject to borrowing base.
- Covenants: min trailing 12-month EBITDA of $10M, max unfunded capex of $15M, fixed charge coverage ≥1.00x if liquidity <$15M.
- Prior Wells Fargo credit agreement dated Dec 28, 2020 terminated upon repayment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819974/000181997423000003/0001819974-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819974/000181997423000003/skyt-20221228.htm
  HTML page:      https://secwatch.observer/filing/0001819974-23-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer