SkyWater Technology gets $100 million secured revolving facility

By Mary-Katherine Stinson

Lexington, Ky., Jan. 4 – SkyWater Technology signed a new $100 million three-year senior secured revolving credit facility that expands the company’s available borrowing capacity, according to a press release Wednesday.

The new credit facility contains an accordion feature allowing an increase in the size of the facility by up to $30 million, subject to certain conditions, for a total potential borrowing capacity of up to $130 million.

Siena Lending Group LLC and Great Rock Capital were the joint arrangers for the facility. Siena was also the revolver agent.

Cowen and Co., LLC acted as exclusive financing adviser to SkyWater.

Ballard Spahr LLP was SkyWater’s legal counsel.

SkyWater expects to use the new credit facility for general corporate purposes, which may include the funding of working capital or supporting internal growth initiatives.

Concurrently with closing, SkyWater terminated its existing senior credit facility with Wells Fargo.

Bloomington, Minn.-based SkyWater is a semiconductor manufacturer.

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