secwatch.observer — SEC 8-K summary
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Issuer:     Shimmick Corp (SHIM)
CIK:        0001887944
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0000950170-24-063761
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1887944/000095017024063761/0000950170-24-063761-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1887944/000095017024063761/shim-20240523.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-063761

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