secwatch.observer — SEC 8-K summary
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Issuer:     Shimmick Corp (SHIM)
CIK:        0001887944
Form:       8-K
Filed at:   2024-09-26T23:59:59+00:00
Accession:  0000950170-24-109469
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1887944/000095017024109469/0000950170-24-109469-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1887944/000095017024109469/shim-20240925.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-109469

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