SkyWater Technology, Inc. - SKYT STOCK NEWS

SkyWater Technology (NASDAQ: SKYT) has appointed Gregg Damminga as its first Fellow, recognizing his significant contributions to technology leadership since the company's inception in 2017. Damminga, a veteran with 30 years in the semiconductor field, will play a pivotal role in enhancing SkyWater's Advanced Technology Services (ATS) and driving the company’s Technology as a Service (TaaS) model, which streamlines technology development and manufacturing. SkyWater's ATS division now constitutes two-thirds of its overall business, underlining its rapid growth and vital importance to the company’s strategy.

SkyWater Technology (NASDAQ: SKYT) recently hosted U.S. Senator Amy Klobuchar and Representative Dean Phillips at its Minnesota facility to discuss the microelectronics supply chain. The leaders emphasized the need to boost domestic production of semiconductors, a sector that has declined over decades. Klobuchar noted SkyWater's growth amidst challenges, citing it as a success story with 500 employees. The visit coincided with ongoing government initiatives aimed at reshoring chip manufacturing, including the U.S. Innovation and Competition Act, which combines funding from the CHIPS Act and other proposals.

SkyWater Technology (NASDAQ: SKYT) announced its participation in the 49th Annual Cowen Technology, Media & Telecom Conference on June 2, 2021. Thomas Sonderman, president and CEO, and Steve Manko, CFO, will engage in a virtual fireside chat at 1:30 p.m. CT. A live webcast and replay will be accessible on the company's investor relations website. SkyWater is a U.S.-based semiconductor foundry, recognized as a DOD-accredited Trusted supplier, specializing in custom development and advanced packaging services.

SkyWater Technology announced the launch of the chipIgnite program in collaboration with Efabless to democratize chip design and fabrication. This initiative expands on the SKY130 open-source chip manufacturing program, enabling private commercial designs. The program offers low-cost manufacturing, development boards, and firmware to streamline design validation. The initial run focuses on university projects, with a submission deadline of June 18, 2021, and delivery planned for early October. The initiative is supported by industry partners like QuickLogic and CHIPS Alliance.

SkyWater Technology (NASDAQ: SKYT) reported a 30% increase in net sales for Q1 2021, reaching $48.1 million. However, the company posted a net loss of $2.8 million, equating to (6%) of net sales. The Adjusted EBITDA was $5.6 million, or 12% of net sales. The growth was driven by the Advanced Technology Services (ATS) sector, with sales hitting $38.1 million, a 61% year-over-year rise. SkyWater's progress in the Advanced Packaging fab and partnerships further support future growth.

SkyWater Technology (NASDAQ: SKYT) announced participation in the 16th Annual Needham Virtual Technology & Media Conference on May 20, 2021. CEO Thomas Sonderman and CFO Steve Manko will engage in a fireside chat scheduled for 12:30 p.m. CT (1:30 p.m. ET). A live webcast and replay will be accessible on their investor relations site.

SkyWater is a U.S.-based semiconductor foundry, known for custom technology development and advanced packaging. The company primarily serves markets such as aerospace, automotive, and IoT, with operations in Minnesota and Florida.

SkyWater Technology (NASDAQ: SKYT) announced plans to report its first quarter fiscal 2021 financial results for the period ending April 4, 2021, post-market on May 18, 2021. A live webcast is scheduled for May 19, 2021, at 9:00 a.m. CT for management to discuss the earnings and business updates. SkyWater is a U.S.-based semiconductor foundry, recognized for its advanced technology services and diverse market applications including aerospace, automotive, and IoT.

SkyWater Technology (NASDAQ: SKYT) successfully closed its initial public offering, selling 8,004,000 shares at $14.00 each, generating gross proceeds of $112,056,000. The offering included 1,044,000 shares from the underwriters' over-allotment option. The funds will be allocated for working capital, growth initiatives, and capital expenditures, with potential future investments, although no specific plans are currently in place. SkyWater started trading on the NASDAQ Capital Market on April 21, 2021.

SkyWater Technology (NASDAQ: SKYT) has announced the upsizing and pricing of its initial public offering (IPO), set at $14.00 per share for 6,960,000 shares. An additional 1,044,000 shares may be purchased by underwriters within 30 days. Trading will commence on the NASDAQ Capital Market on April 21, 2021. The funds raised will primarily support working capital, growth financing, and possibly acquisitions, though no specific plans are currently outlined. The registration statement was effective as of April 20, 2021.