---
schema_version: "secwatch.filing_event.v1"
accession: "0000090168-23-000020"
form_type: "8-K"
ticker: "SIF"
cik: "0000090168"
company_name: "SIFCO INDUSTRIES INC"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:50:10.573354+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SIFCO enters forbearance with JPMorgan after defaults; appoints RSM as new auditor

## Summary
- 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.

## SEC filing metadata
- accession: 0000090168-23-000020
- form_type: 8-K
- ticker: SIF
- cik: 0000090168
- company_name: SIFCO INDUSTRIES INC
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/90168/000009016823000020/0000090168-23-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/90168/000009016823000020/sif-20230428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000090168-23-000020
- JSON: https://secwatch.observer/filing/0000090168-23-000020.json
- Plain text: https://secwatch.observer/filing/0000090168-23-000020.txt

## Key facts
- Auditor Changes
  SIFCO INDUSTRIES INC engaged RSM US LLP as its auditor.
  - Action: engagement
  - Auditor: RSM US LLP
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/90168/000009016823000020/0000090168-23-000020-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/90168/000009016823000020/0000090168-23-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.