- SkyWater Technology ( NASDAQ: SKYT ) signs a new $100M 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 $30M, for a total potential borrowing capacity of up to $130M.
- The company expects to use the new credit facility for general corporate purposes, which may include the funding of working capital or supporting internal growth initiatives.
- "We are very pleased with the completion of this debt facility and new partnership with Siena and Great Rock. This facility provides us with increased financial flexibility and liquidity that we believe will allow SkyWater to continue to grow. This new, larger facility is a reflection of our success over the past year as we have strengthened our credit profile,” said SkyWater Chief Financial Officer, Steve Manko.
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SkyWater Technology expands borrowing capacity by closing new $100M senior secured revolving credit facility