Development foundry SkyWater Technology Inc. based in Bloomington, Minnesota, has filed for an initial public offering of shares to be listed on Nasdaq.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to commence after the Securities and Exchange Commission (SEC) completes a review, subject to market and other conditions. There is no assurance that the proposed offering will be completed.

SkyWater was formed by the buy-out of a former Cypress Semiconductor wafer fab and operates as US-owned pure-play semiconductor foundry and Department of Defense trusted supplier. It specializes in technology development services with some volume manufacturing and advanced packaging capability. It offers mixed-signal CMOS, power, rad-hard ICs as well as superconducting and 3D ICs, along with carbon nanotube, photonic and MEMS devices.

SkyWater has appointed John Spicer as executive vice president of operations. Spicer was previously vice president of On Semiconductor’s fab operations. Previously, he served in various operations roles at both AMI Semiconductor and Advanced Micro Devices.

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