SkyWater Technology (NASDAQ:SKYT) (the “Company” or “SkyWater”) announced today that it has priced a public offering of $15.0 million of shares of its common stock at a price of $9.00 per share. The underwriter has a 30-day option to purchase up to $2.25 million of additional shares of SkyWater’s common stock at the public offering price of the common stock, less underwriting discounts and commissions.
The Company estimates that it will receive net proceeds of approximately $13.7 million from this offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by it and assuming the underwriter does not exercise its option to purchase additional shares. The Company intends to use the net proceeds from this offering primarily for general corporate purposes, which may include, among other things, funding of operations, repayment of indebtedness, additions to working capital and/or capital expenditures. The offering is expected to close on or about November 17, 2022, subject to the satisfaction of customary closing conditions.
Needham & Company is acting as sole book-running manager for the common stock offering
