Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SYPRIS SOLUTIONS INC incurred loan of $2,500,000 loan with Gill Family Capital Management, Inc. at greater of 8% or 500 basis points above the five-year Treasury note average duri maturing April 1, 2025, $2,000,000 to April 1, 2026 and the balance to April 1, 2027.
- Instrument
- loan
- Principal
- $2,500,000 loan
- Counterparty
- Gill Family Capital Management, Inc.
- Rate
- greater of 8% or 500 basis points above the five-year Treasury note average duri
- Maturity
- April 1, 2025, $2,000,000 to April 1, 2026 and the balance to April 1, 2027
- Event
- incurrence
Exact text from the filing
On November 10, 2023, Sypris Solutions, Inc. (the "Company") and certain of its subsidiaries amended and restated its Amended and Restated Promissory Note dated December 29, 2021 (the "2021 Promissory Note") in favor of Gill Family Capital Management, Inc. ("GFCM"), an entity controlled by the Company's president and chief executive officer, Jeffrey T. Gill and one of its directors, R. Scott Gill (the "2023 Promissory Note"). Pursuant to the 2023 Promissory Note, GFCM made a $2,500,000 loan (the "Additional Loan") to the Company to bring the total amount of the principal up to $6,500,000.00 on or prior to December 1, 2023
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SYPRIS SOLUTIONS INC amended 2023 Promissory Note with Gill Family Capital Management, Inc. ("GFCM") valued at $2,500,000 (effective 2023-11-10).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Gill Family Capital Management, Inc. ("GFCM")
- Value
- $2,500,000
- Effective
- 2023-11-10
Exact text from the filing
On November 10, 2023, Sypris Solutions, Inc. (the “Company”) and certain of its subsidiaries amended and restated its Amended and Restated Promissory Note dated December 29, 2021 (the “2021 Promissory Note”) in favor of Gill Family Capital Management, Inc. (“GFCM”), an entity controlled by the Company’s president and chief executive officer, Jeffrey T. Gill and one of its directors, R. Scott Gill (the “2023 Promissory Note”).
View on SEC.gov