- SkyWater Technology ( NASDAQ: SKYT ) fell 7.4% after hours on Monday as it announced a proposed underwritten registered public stock offering .
- The firm expects to grant the underwriter a 30-day option to buy additional shares at the offering price.
- SkyWater ( SKYT ) intends to use the net proceeds for general corporate purposes, which may include funding of operations, repayment of indebtedness, additions to working capital and/or capex.
- Shares of SkyWater ( SKYT ) dropped ~30% YTD.
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SkyWater Technology falls 7% after hours on proposed stock offering