Shimmick signs $14.3M equipment loan at 9.31%, repays Ansley Park debt

Shimmick Corp

New Loan and Security Agreement with Sixty-First Commercial Finance provides $14.3M borrowing capacity; initial advance of $14,285,255 at 9.31% interest, maturing October 2, 2031.
Proceeds for project expenses and general corporate purposes; default interest capped at lesser of 15.0% or maximum legal rate; 1.0% upfront fee on advances.
First-priority security interest covers equipment, related software/IP, cash deposits, contract rights, insurance proceeds and proceeds; advances capped at 72.5% of appraised equipment value.
Prior Loan and Security Agreement with Ansley Park Capital (March 12, 2025) repaid and terminated on the closing date.
Credit agreements with Alter Domus (agent), AECOM, Berkshire Hathaway Specialty Insurance and ACF FINCO I LP amended to replace references to the prior loan.

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