SkyWater Technology (SKYT) Announces Offering of Shares of Common Stock

SkyWater Technology (NASDAQ: SKYT) (the “Company” or “SkyWater”) announced today that it has commenced a proposed underwritten registered public offering of its common stock. SkyWater expects to grant the underwriter a 30-day option to purchase additional shares of its common stock at the public offering price of the common stock, less underwriting discounts and commissions.

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.

Needham & Company is acting as sole book-running manager for the common stock offering. A shelf registration statement on Form S-3 (File No. 333-266981) relating to the offering of the securities described above was filed with the Securities and Exchange Commission (the “SEC”) on August 19, 2022 and declared effective by the SEC on September 1, 2022. The shares may be offered only by means of a prospectus forming a part of the Company's effective shelf registration statement, related prospectus supplement and other related documents. You may obtain these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may also be obtained, when available, by contacting Needham & Company, Attention: Prospectus Department, 250 Park Avenue, New York, New York 10177, telephone: 800-903-3268 or email: [email protected]. Before you invest in our common stock, you should read the prospectus supplement and accompanying prospectus, along with other documents that the Company has filed with the SEC, for more complete information about the Company and the common stock offering.

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