SkyWater Technology Amends Revolving Loan Agreement; Shares Rise

MT Newswires Live

Nov 26, 2024

SkyWater Technology (SKYT) climbed almost 6% in recent trading Monday, after the company said it negotiated revisions extending the maturity and increasing the borrowing capacity of its existing revolving loan facility with Siena Lending Group and GRC SPV Investments.

The amended loan agreement extends maturity through the end of 2028 and boosts the amount available for the semiconductor company by $30 million to a new maximum of $130 million.

It also contains an accordion feature allowing SkyWater to borrow an additional $30 million under certain conditions and a $25 million sublimit for equipment purchases and other capital expenses, the company said.

Price: 8.92, Change: +0.49, Percent Change: +5.81

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