# EDGAR Filing Document

**Accession Number:** 0001741560
**File Stem:** 0000897101-25-000608
**Filing Date:** 2025-11
**Character Count:** 13244
**Document Hash:** a60d2d533a2d73c538d45ec95a499613
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000897101-25-000608.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0000897101-25-000608

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SkyWater Technology, Inc
- **CENTRAL INDEX KEY:** 0001819974
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 371839853
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1229

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93459
- **FILM NUMBER:** 251480228

**BUSINESS ADDRESS:**
- **STREET 1:** 2401 EAST 86TH STREET
- **CITY:** BLOOMINGTON
- **STATE:** MN
- **ZIP:** 55425
- **BUSINESS PHONE:** 952-851-5200

**MAIL ADDRESS:**
- **STREET 1:** 2401 EAST 86TH STREET
- **CITY:** BLOOMINGTON
- **STATE:** MN
- **ZIP:** 55425

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CMI Acquisition, LLC
- **DATE OF NAME CHANGE:** 20200803
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Unterseher Loren A
- **CENTRAL INDEX KEY:** 0001741560

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**MAIL ADDRESS:**
- **STREET 1:** 8799 BROOKLYN BLVD
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55445

## Exhibit 99.1

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, each of the undersigned hereby agrees to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13G referred to below) on behalf of each of them of a Statement on Schedule 13G and any necessary amendments thereto with respect to the common stock of SkyWater Technology, Inc. and that this Agreement may be included as an Exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of November 13, 2025.

---

| | |
|:---|:---|
| CMI OXBOW PARTNERS, LLC | CMI OXBOW PARTNERS, LLC |
| By: | Oxbow Industries, LLC, its Managing Member |
| By: | /s/Loren A. Unterseher |
|  | Name: Loren A. Unterseher |
|  | Title: Managing Partner |
| OXBOW INDUSTRIES, LLC | OXBOW INDUSTRIES, LLC |
| By: | /s/Loren A. Unterseher |
|  | Name: Loren A. Unterseher |
|  | Title: Managing Partner |
| /s/Loren A. Unterseher | /s/Loren A. Unterseher |
| Loren A. Unterseher | Loren A. Unterseher |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 7)**

**Issuer:** SkyWater Technology, Inc

**Title of Class of Securities:** Common Stock, par value $0.01 per share

**CUSIP Number:** 83089J108

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [x] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>CMI Oxbow Partners, LLC | Names of Reporting Persons<br>CMI Oxbow Partners, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>4811256.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>4811256.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>4811256.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>4811256.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.99% | Percent of Class Represented by Amount in Row (9)<br>9.99% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** The percentage reflected in Row 11 was calculated based on 48,175,815 shares of common stock outstanding as of August 6, 2025, as reported by the issuer in its quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission on August 7, 2025.

---

| 1. | Names of Reporting Persons<br>Oxbow Industries, LLC | Names of Reporting Persons<br>Oxbow Industries, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>MN | Citizenship or Place of Organization<br>MN |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>4811256.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>4811256.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>4811256.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>4811256.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.99% | Percent of Class Represented by Amount in Row (9)<br>9.99% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** The percentage reflected in Row 11 was calculated based on 48,175,815 shares of common stock outstanding as of August 6, 2025, as reported by the issuer in its quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission on August 7, 2025.

---

| 1. | Names of Reporting Persons<br>Loren A. Unterseher | Names of Reporting Persons<br>Loren A. Unterseher |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>5176498.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>4811259.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>5176498.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>4811259.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9987757.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9987757.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>20.73% | Percent of Class Represented by Amount in Row (9)<br>20.73% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** The percentage reflected in Row 11 was calculated based on 48,175,815 shares of common stock outstanding as of August 6, 2025, as reported by the issuer in its quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission on August 7, 2025.

The amounts reflected in Rows 5 and 7 exclude 11,428 shares of common stock underlyingrestricted stock units scheduled to vest on the date immediately preceding the next annualmeeting of the issuer's stockholders.

---

**Item 1(a). Name of Issuer:**
SkyWater Technology, Inc

**Item 1(b). Address of Issuer's Principal Executive Offices:**
2401 East 86th Street, Bloomington, Minnesota 55425

**Item 2(a). Name of Person Filing:**
CMI Oxbow Partners, LLC
Oxbow Industries, LLC
Loren A. Unterseher

**Item 2(b). Address of Principal Business Office:**
c/o Oxbow Industries, LLC
4450 Excelsior Boulevard, Suite 440
Minneapolis, MN 55416

**Item 2(c). Citizenship:**
CMI Oxbow Partners, LLC - Delaware limited liability company
Oxbow Industries, LLC - Minnesota limited liability company
Loren A. Unterseher - Citizen of the United States of America

**Item 2(d). Title of Class of Securities:**
Common Stock, par value $0.01 per share

**Item 2(e). CUSIP Number:**
83089J108

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

9,987,757 shares
Loren A. Unterseher is President of CMI Oxbow Partners, LLC ("CMI") and Managing Partner of Oxbow Industries, LLC ("Oxbow"), which is the majority member of CMI. As a result, Mr. Unterseher and Oxbow may be deemed to be the beneficial owners of, and to have a pecuniary interest in, shares of common stock held by CMI. Each disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein.

**(b) Percent of class:**

20.73%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

5,176,498

**(ii) Shared power to vote or to direct the vote:**

4,811,259

**(iii) Sole power to dispose or to direct the disposition of:**

5,176,498

**(iv) Shared power to dispose or to direct the disposition of:**

4,811,259

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

—

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**CMI Oxbow Partners, LLC**

**Date:** 11/13/2025

**By:** /s/ Loren A. Unterseher

**Name & Title:** Loren A. Unterseher/President

**Oxbow Industries, LLC**

**Date:** 11/13/2025

**By:** /s/ Loren A. Unterseher

**Name & Title:** Loren A. Unterseher/President

**Loren A. Unterseher**

**Date:** 11/13/2025

**By:** /s/ Loren A. Unterseher

**Name & Title:** Loren A. Unterseher/President