Everspin locks in 10-year MRAM manufacturing deal with Microchip, commits $14M upfront

Filed April 10, 2026 · Period ending April 8, 2026 · ~1 min read

Key Changes

• high

  Everspin will pay Microchip ~$13.95M in two phases for tooling setup and engineering to establish MRAM production at Microchip's Oregon fab, with capacity coming online in 18-30 months depending on product type.

  Item 1.01 verify on EDGAR →
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  Company committed to minimum quarterly wafer purchases ramping to 1,300 wafers per quarter. If Everspin misses minimums, it must pay the shortfall in cash within 45 days—a take-or-pay obligation that could strain cash if demand weakens.

  Item 1.01 verify on EDGAR →
• high

  The 10-year foundry agreement (auto-renewing for 2-year periods) secures long-term manufacturing capacity for Toggle MRAM, TMR sensors, and STT-MRAM products, reducing supply chain risk for Everspin's core business.

  Item 1.01 verify on EDGAR →