Westport, CT – December 20, 2024 — Siena Lending Group (“Siena”) and Great Rock Capital (“Great Rock”) announced today the closing of a $130MM Senior Credit Facility for SkyWater Technology, a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier.

As amended, the revolving loan commitment has been extended to December 31, 2028, and the capacity has been increased from $100MM to $130MM. The amended facility includes a new $25MM capital expenditure (CapEx) sublimit and a $30MM accordion feature.  The Company intends to utilize the increased borrowing capacity to support ongoing capital investments, working capital, and growth initiatives as it continues to drive innovation in high-demand markets such as aerospace and defense, advanced compute, and biomedical industries.

"We are pleased to strengthen our partnership with Siena and Great Rock," said SkyWater Chief Financial Officer, Steve Manko. "The extended maturity and additional capacity reflect increased confidence in SkyWater’s financial performance and provide additional support for our strategic initiatives and future growth potential.”

“Siena and Great Rock appreciate the opportunity to assist with SkyWater’s continued growth and the initiatives of its talented management team,” said Todd Eubanks, Deputy Chief Risk Officer of Siena Lending Group.  “The amended and extended credit facility provides SkyWater with a strong and flexible capital foundation to execute on its business strategy.”

“Great Rock is pleased to work alongside Siena to provide SkyWater with additional growth capital and financial flexibility to support their thriving business,” said Kathy Auda, Chief Risk Officer of Great Rock Capital. “SkyWater has been an excellent financial partner, and we look forward to supporting their future growth endeavors.”  

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