SkyWater Technology, which offers advanced semiconductor development and manufacturing services, filed on Monday with the SEC to raise up to $75 million in an initial public offering.
SkyWater Technology is a pure-play technology foundry that offers advanced semiconductor development and manufacturing services from its Minnesota-based fabrication facility and advanced packaging services from its Florida-based facility. The company employs a technology as a service model, leveraging proprietary technology to co-develop process technology IP with its customers through its Advanced Technology Services for diverse microelectronics (integrated circuits, or ICs) and related micro- and nanotechnology applications. In addition to differentiated technology development services, SkyWater supports customers with volume production of ICs for high-growth markets through its Wafer Services.
The Bloomington, MN-based company was founded in 1991 and booked $140 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol SKYT. Jefferies, Cowen and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
