SkyWater Technology, Inc. has announced an amendment to its existing corporate loan and financing agreement, effective June 30, 2025. This amended and restated loan and security agreement involves SkyWater Technology Foundry, Inc., SkyWater Federal, LLC, SkyWater Florida, Inc., and Spansion Fab 25 LLC as borrowers. The agreement, established with Siena Lending Group LLC as the agent and involving lenders including Benefit Street Partners and Ares, offers a revolving line of credit up to $350 million. This strategic financial move is designed to enhance the company's financial flexibility, with borrowing contingent on a base of specified advance rates tied to accounts receivable, inventory, and equipment. The loan agreement is set to mature on June 30, 2030, and includes specific prepayment conditions based on net proceeds received by the company.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.