---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-120300"
form_type: "8-K"
ticker: "SHIM"
cik: "0001887944"
company_name: "Shimmick Corp"
filed_at: "2024-11-04T23:59:59+00:00"
generated_at: "2026-05-30T06:22:04.031175+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Shimmick reaches $97M settlement on Golden Gate Bridge; Q3 prelim results near breakeven

## Summary
- Settlement of Golden Gate Bridge litigation: Shimmick to receive $97M before end of 2024, plus scope reduction of ~$6M.
- Transformation plan: sale-leaseback of Tracy equipment yard yields ~$17M gain; $16M non-cash charge for ERP system upgrade.
- Preliminary Q3 FY2024 (ended Sept 27, 2024): net income/loss expected between breakeven and a small loss due to continued losses in legacy and foundation projects.
- Substantial completion of onsite GGB work expected Q3 2025; remaining work for offsite fabrication.
- Settlement proceeds after subcontractor pass-through to be used for ongoing operations including GGB completion.

## SEC filing metadata
- accession: 0000950170-24-120300
- form_type: 8-K
- ticker: SHIM
- cik: 0001887944
- company_name: Shimmick Corp
- filed_at: 2024-11-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1887944/000095017024120300/0000950170-24-120300-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1887944/000095017024120300/shim-20241031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-120300
- JSON: https://secwatch.observer/filing/0000950170-24-120300.json
- Plain text: https://secwatch.observer/filing/0000950170-24-120300.txt

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