Chartwell Arranges New Senior Secured Credit Facilities for SkyWater Technology Foundry, Inc.

Chartwell is pleased to announce SkyWater Technology Foundry, Inc. (“SkyWater” or the “Company”) has successfully closed a refinancing of its senior credit facilities.  The new debt structure will provide additional capital to support the Company’s projected growth.  Chartwell served as SkyWater’s exclusive financial advisor, providing unbiased conflict-free advice, capital structuring, and deal execution throughout the capital raising process.  After a competitive market clearing process, the Company selected Wells Fargo as the administrative agent on the revolving credit facility.  Gordon Brothers Finance Company will continue to serve as the administrative agent on the term loan.  Wells Fargo is also participating in the term loan on a “first out” basis.  Both lending partners provided attractive and flexible committed capital to fund SkyWater’s growth while significantly lowering the Company’s cost of capital.

SkyWater, a portfolio company of Oxbow Industries, LLC (“Oxbow”), is the semiconductor industry’s most advanced pure-play, U.S.-based, and domestically owned technology foundry.  SkyWater is widely regarded as a best-in-class 200mm semiconductor wafer fabrication facility and a center of excellence in highly engineered semiconductor solutions such as quantum computing products, DNA sequencing, and other highly sophisticated technologies.  Oxbow acquired the Company in 2017 as part of a divestiture by Cypress Semiconductor Corp. (NASDAQ: CY).  Since the acquisition, Oxbow and SkyWater have pursued an aggressive growth strategy by acquiring a highly specialized semiconductor line of business and adding several key executive team members, both of which will serve as a cornerstone to support accelerating growth plans.

ABOUT OXBOW INDUSTRIES, LLC

Headquartered in Minneapolis, Minnesota, Oxbow is a diversified holding company dedicated to building businesses in partnership with their management teams.  Oxbow’s transactions provide liquidity for owners, raise capital for corporate growth, and create significant equity opportunities for key management.  For more information, visit www.oxbowindustries.com.

TRANSACTION PROFESSIONALS

For additional information on this transaction or Chartwell’s corporate finance services, please contact Greg Fresh or Will Bloom.