Shimmick amends credit facilities: $15M borrowing capacity, maturity to Dec 2024, existing defaults waived

Shimmick Corp

MidCap Amendment provides $15M borrowing capacity (none drawn), extends maturity to Dec 31, 2024 with 90-day extension option.
Company had existing Events of Default which were conditionally waived under the MidCap Amendment.
AECOM/BHSI Amendment consents to MidCap changes and requires mandatory prepayments if MidCap loans unused within 5 days.
Borrowers to pay a $150,000 fee to lenders on the effective date.
Conditions include delivery of an Irrevocable Standby Letter of Credit and amendment to the AECOM Guaranty.

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