secwatch.observer — SEC 8-K summary
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Issuer:     TECHPRECISION CORP (TPCS)
CIK:        0001328792
Form:       8-K
Filed at:   2024-07-10T23:59:59+00:00
Accession:  0001104659-24-078713
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.02, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TechPrecision raises $2.3M via private placement; reports preliminary Q4 results; delays FY2024 10-K filing
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- Private placement of 666,100 shares and warrants at $3.45/unit; gross proceeds ~$2.3M; closed July 8, 2024.
- Warrants exercisable at $4.00/share, 5-year term, exercisable beginning 6 months after issuance.
- Preliminary Q4 FY2024: Ranor net sales $4.53M (net income $246k); STADCO net sales $5.02M (net income $379k).
- Corporate costs ~$400k recurring + $1.0M one-time expenses from terminated Votaw acquisition.
- Filed NT 10-K for 15-day extension to file annual report due to STADCO financial reporting integration issues.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1328792/000110465924078713/0001104659-24-078713-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1328792/000110465924078713/tm2419078d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-078713

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