SkyWater Technology, Inc. (SKYT) saw its stock price soar 6.11% during pre-market trading on Thursday.
The significant upward movement follows the announcement that IonQ, Inc. has signed a definitive agreement to acquire SkyWater for $35.00 per share in a cash-and-stock transaction. This acquisition price represents a substantial premium to recent trading levels and is subject to shareholder and regulatory approvals, with an expected closing in the second or third quarter of 2026.
Additionally, SkyWater reported preliminary fourth-quarter revenue of $171.0 million, representing a 127% year-over-year increase. The company attributed this growth to contributions from its Fab 25 acquisition and increased quantum computing engagements.