---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-031775"
form_type: "8-K"
ticker: "SYPR"
cik: "0000864240"
company_name: "SYPRIS SOLUTIONS INC"
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T04:23:27.578412+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sypris Solutions ups loan from CEO-affiliated lender to $6.5M, extends maturities

## Summary
- Additional $2.5M loan from GFCM (controlled by CEO Jeffrey T. Gill and director R. Scott Gill) brings total to $6.5M.
- Maturities staggered: $2M due Apr 2025, $2M due Apr 2026, balance due Apr 2027.
- Interest rate set at greater of 8% or 500 bps above 5-year Treasury average, adjustable each April 1.
- Up to 60% of quarterly interest may be deferred to April 1, 2025.
- Loan secured by first-priority security interest in all assets of the company and its subsidiaries.

## SEC filing metadata
- accession: 0001437749-23-031775
- form_type: 8-K
- ticker: SYPR
- cik: 0000864240
- company_name: SYPRIS SOLUTIONS INC
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/864240/000143774923031775/0001437749-23-031775-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/864240/000143774923031775/sypr20231112_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-031775
- JSON: https://secwatch.observer/filing/0001437749-23-031775.json
- Plain text: https://secwatch.observer/filing/0001437749-23-031775.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/864240/000143774923031775/0001437749-23-031775-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/864240/000143774923031775/0001437749-23-031775-index.htm

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