SkyWater Technology Completes $112,056,000 Initial Public Offering
April 23 2021 - 10:28AM
Business Wire
SkyWater Technology (NASDAQ: SKYT) today announced that it
closed its initial public offering of 8,004,000 shares of its
common stock, which includes 1,044,000 shares issued pursuant to
the exercise by the underwriters of their over-allotment option at
the initial public offering price. The offering was priced at
$14.00 per share, resulting in gross proceeds of $112,056,000. The
shares began trading on the NASDAQ Capital Market on April 21, 2021
under the symbol "SKYT."
SkyWater intends to use the net proceeds from the offering for
working capital and other general corporate purposes, which may
include financing SkyWater’s growth and funding capital
expenditures. SkyWater may use a portion of the proceeds from the
offering for acquisitions or strategic investments in businesses or
technologies, although SkyWater does not currently have any plans
or commitments for any such acquisitions or investments.
Jefferies LLC and Cowen acted as joint lead book-running
managers and Piper Sandler & Co. also acted as a book-running
manager for the offering.
A registration statement relating to these securities was filed
with the Securities and Exchange Commission and was declared
effective on April 20, 2021. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
any securities, nor shall there be any sale of these securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of that jurisdiction.
The offering was made only by means of a prospectus. Copies of
the final prospectus related to the offering may be obtained, when
available, from Jefferies LLC, Attn: Equity Syndicate Prospectus
Department, 520 Madison Avenue, New York, NY 10022, by phone at
(877) 821-7388, or by email at Prospectus_Department@Jefferies.com;
and Cowen and Company, LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus
Department, by phone at (833) 297-2926, or by email at
PostSaleManualRequests@broadridge.com. An electronic copy of the
registration statement can be accessed by visiting the Securities
and Exchange Commission's website at www.sec.gov.
About SkyWater
SkyWater is a U.S.-owned and U.S.-based pure play semiconductor
foundry and is a DOD-accredited Trusted supplier that specializes
in custom technology development services, volume manufacturing,
and advanced packaging capabilities.
Source String: SkyWater Technology SKYT-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20210423005389/en/
SkyWater Investor Contact: Heather Davis |
investor@skywatertechnology.com SkyWater Media Contact:
Lauri Julian | media@skywatertechnology.com
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