SIFCO INDUSTRIES INC (SIF): auditor change — SIFCO enters forbearance with JPMorgan after defaults; appoints RSM as new auditor

SIFCO INDUSTRIES INC

Forbearance agreement caps revolving exposure at $19M, reduces borrowing base reserve to $2M.
Defaults include failure to provide borrowing base certificates, monthly reports, and fixed charge coverage ratio.
Engages Getzler Henrich, Houlihan Lokey, and a debt placement consultant; weekly reporting required.
Forbearance period runs through August 15, 2023, unless earlier default triggers remedy acceleration.
Audit committee appoints RSM US LLP as independent auditor for FY2023, replacing prior firm.

item 1.01 item 4.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

SIFCO INDUSTRIES INC engaged RSM US LLP as its auditor.

Action: engagement
Auditor: RSM US LLP

Exact text from the filing

On May 3, 2023, the Audit Committee of the Board of Directors of SIFCO Industries, Inc. appointed RSM US LLP (“RSM”) as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SIFCO INDUSTRIES INC entered into Forbearance Agreement with JPMorgan Chase Bank, N.A. (effective 2023-04-28).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Effective: 2023-04-28

Exact text from the filing

on April 28, 2023 the Company, T&W, and Quality Forge entered into a Forbearance Agreement (the “Forbearance Agreement”) with Lender in respect of the Credit Agreements

View on SEC.gov

Browse all auditor changes →

SIFCO INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0000090168-23-000020

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.