---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-063761"
form_type: "8-K"
ticker: "SHIM"
cik: "0001887944"
company_name: "Shimmick Corp"
filed_at: "2024-05-23T23:59:59+00:00"
generated_at: "2026-06-01T09:22:11.285277+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Shimmick closes $17.5M sale of foundation drilling assets; repays $10M credit facility

## Summary
- Total consideration $17.5M: $15M cash plus $2.5M promissory note due Dec 27, 2024.
- $10M of proceeds used to repay MidCap Financial revolving credit facility; remainder for costs and operations.
- Company will continue working on certain existing foundation projects expected to complete by year-end.
- Sale closed on May 21, 2024.

## SEC filing metadata
- accession: 0000950170-24-063761
- form_type: 8-K
- ticker: SHIM
- cik: 0001887944
- company_name: Shimmick Corp
- filed_at: 2024-05-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1887944/000095017024063761/0000950170-24-063761-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1887944/000095017024063761/shim-20240523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-063761
- JSON: https://secwatch.observer/filing/0000950170-24-063761.json
- Plain text: https://secwatch.observer/filing/0000950170-24-063761.txt

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