Shareholders' Equity

9 Months Ended

Oct. 01, 2023

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders' Equity

On September 2, 2022, SkyWater entered into an Open Market Sale Agreement with Jefferies LLC with respect to an at the market offering program (the "ATM Program"). Pursuant to the agreement, the Company may, from time to time, offer and sell up to $100,000 in shares of the Company's common stock. During the nine-month period ended October 1, 2023, the Company sold approximately 2,081,167 shares at an average sale price of $10.10 per share, resulting in gross proceeds of approximately $21,029 before deducting sales commissions and fees of approximately $631. The Company used the net proceeds to pay down the Revolver and fund its operations.

As of October 1, 2023, approximately $74,930 in shares were available for issuance under the Open Market Sale Agreement.