SkyWater Technology announced the signing of a new $100 million three-year senior secured revolving credit facility that expands the company's available borrowing capacity. The new credit facility contains an accordion feature that allows the company to increase 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. The facility was jointly arranged by Siena Lending Group LLC and Great Rock Capital.

Concurrently with the closing of the new facility, SkyWater terminated its existing senior credit facility with Wells Fargo. 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. Siena Lending Group LLC served as Revolver Agent on the facility.

Cowen and Company, LLC acted as Exclusive Financing Advisor to SkyWater. Ballard Spahr LLP served as legal counsel for the company.