Shimmick settles AECOM lawsuit, issues shares, secures $60M revolver, and appoints new director

Shimmick Corp

Settled AECOM lawsuit; issued 5,144,622 shares (19.99% of outstanding) to AECOM, with up to 2.6M more pending shareholder vote.
Entered into new $60M revolving credit facility with AECOM and BHSI, maturing May 2029; replaces prior BHSI agreement.
Amended existing MidCap facility: cures default, changes maturity to Sept 30, 2024, interest SOFR+5.5%, adds AECOM as guarantor.
Appointed Peter Kravitz as independent director; established special committee to oversee transformation and long-term value.
Expects to close sale of foundation drilling assets for $17.5M by end of week; will file Q1 10-Q today.

item 1.01 item 8.01 item 1.02 item 2.03 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Peter Kravitz

independent director

SHIM · Shimmick Corp

Effective: 2024-05-20
Filed: May 20, 2024, 7:59 PM ET

on May 20, 2024, the board of directors (the “Board”) increased the size of the Board from six to seven members and appointed Peter Kravitz to serve as an independent director of the Company, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Peter Kravitz was appointed as independent director at Shimmick Corp.

Action: appointed
Role: independent director

Exact text from the filing

on May 20, 2024, the board of directors (the “Board”) increased the size of the Board from six to seven members and appointed Peter Kravitz to serve as an independent director of the Company, effective immediately.

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Shimmick Corp filing history →

Source: SEC EDGAR

accession 0000950170-24-062130

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