SkyWater Technology Announces Merger with IonQ; Receives Final Regulatory Approval

What Happened
SkyWater Technology, Inc. (SKYT) announced on July 28, 2026 that it and IonQ, Inc. have received final regulatory approval to consummate their previously disclosed Agreement and Plan of Merger. The Merger Agreement was originally entered on January 25, 2026. Under the agreement, Iris Merger Subsidiary 1 will merge into SkyWater (First Merger) and then SkyWater will merge into Iris Merger Subsidiary 2 (Second Merger), resulting in SkyWater becoming a wholly owned subsidiary of IonQ. A joint press release dated July 28, 2026 is attached to the filing as Exhibit 99.1.

Key Details

• Merger Agreement signed: January 25, 2026.
• Regulatory approval announced: July 28, 2026; closing still subject to specified conditions and other closing requirements in the Merger Agreement.
• Transaction structure: two-step merger—Merger Sub 1 into SkyWater (surviving), then SkyWater into Merger Sub 2 (surviving as IonQ subsidiary).
• Filing includes forward-looking statements and lists risks that could prevent or delay closing (e.g., failure to satisfy conditions, operational disruption, employee/customer retention risks).

Why It Matters
This filing signals a key regulatory milestone toward completing the acquisition of SkyWater by IonQ; if closed, SkyWater will become a wholly owned IonQ subsidiary, which represents a change of control that can materially affect SkyWater shareholders and operations. However, the transaction remains subject to remaining closing conditions and the risks noted in the filing, so investors should watch for a definitive closing notice and any updates or additional disclosures (including timing and financial terms in prior filings).