SCHEDULE 13G/A: Oxbow Group Boosts SkyWater Technology Stake to 31.2%

CMI Oxbow Partners, Oxbow Industries, and Loren A. Unterseher have collectively increased their beneficial ownership in SkyWater Technology, Inc. to 31.2% of common stock.

Summary

• CMI Oxbow Partners, LLC, Oxbow Industries, LLC, and Loren A. Unterseher collectively reported beneficial ownership of SkyWater Technology, Inc. common stock.
• Loren A. Unterseher, individually and through his affiliations, beneficially owns an aggregate of 15,041,407 shares, representing 31.2% of the class.
• CMI Oxbow Partners, LLC and Oxbow Industries, LLC each beneficially own 9,812,589 shares, representing 20.4% of the class.
• The percentage of class was calculated based on 48,175,815 shares of common stock outstanding as of August 6, 2025, as reported by the issuer in its Form 10-Q filed on August 7, 2025.
• Loren A. Unterseher's sole voting and dispositive power is 5,176,498 shares, while shared voting and dispositive power is 9,864,909 shares.
• CMI Oxbow Partners, LLC and Oxbow Industries, LLC each hold shared voting and dispositive power over 9,812,589 shares.

Sentiment

Score: 7

Explanation: The significant increase in beneficial ownership by a major investor group, including an individual with direct ties to the reporting entities, is a strong positive indicator of confidence in the company.

Positives

• A significant increase in beneficial ownership by a key investor group, including an individual with management roles within the reporting entities, signals strong confidence in SkyWater Technology, Inc.'s future prospects.
• The collective stake of 31.2% by Loren A. Unterseher and affiliated entities demonstrates a substantial, long-term commitment to the company.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding SkyWater Technology, Inc.'s future performance or strategic direction.

Industry Context

This filing is an ownership disclosure and does not provide specific insights into broader industry trends or competitive landscape for SkyWater Technology, Inc. However, increased significant investor ownership can be a positive signal within any industry.

Related Party Transactions

• Loren A. Unterseher is President of CMI Oxbow Partners, LLC and Managing Partner of Oxbow Industries, LLC, which is the majority member of CMI. This establishes a relationship where Mr. Unterseher and Oxbow may be deemed beneficial owners of shares held by CMI, though they disclaim beneficial ownership except to the extent of any pecuniary interest.

Stakeholder Impact

• Shareholders may perceive the increased stake by a significant investor group as a vote of confidence, potentially leading to positive sentiment and increased investor interest.
• The concentration of ownership could influence future corporate governance decisions and strategic direction.

Key Dates

Recommendation

The substantial increase in beneficial ownership by CMI Oxbow Partners, Oxbow Industries, and Loren A. Unterseher to 31.2% of SkyWater Technology's common stock is a strong signal of conviction from a major investor group. This development is generally positive, suggesting that a well-informed party sees significant value or potential in the company. However, a Schedule 13G/A filing primarily focuses on ownership disclosure and does not provide comprehensive financial or operational details. While the increased stake is encouraging, a 'hold' recommendation is prudent, awaiting further fundamental analysis of the company's performance, strategic initiatives, and market conditions before making a more aggressive 'buy' or 'sell' decision.

Keywords

SkyWater Technology, SWTR, CMI Oxbow Partners, Oxbow Industries, Loren A. Unterseher, beneficial ownership, Schedule 13G/A, semiconductor, foundry