SkyWater Technology 8-K Shows Co. Frame Deal For Purchase Of Wafers, Services With Infineon Technologies

On March 29, 2022, SkyWater Technology Foundry, Inc., a subsidiary of SkyWater Technology, Inc. (the “Company”), entered into a Frame Agreement for the Purchase of Wafers and Services (the “Frame Agreement”) with Infineon Technologies AG (“Infineon”) that sets forth the general terms and conditions on which SkyWater Technology Foundry, Inc. will manufacture and deliver wafers and provide foundry related services to Infineon. The Frame Agreement has an initial four year term, which will be automatically extended for one year periods until terminated by either party. The Frame Agreement may be terminated for convenience by either party upon 18 months’ prior written notice and under certain other circumstances set forth in the Frame Agreement. The Frame Agreement does not contain any firm or minimum volume commitments for purchases by Infineon. Infineon accounted for approximately 29% of the Company revenue for the year ended January 3, 2021.