---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-003821"
form_type: "8-K"
ticker: "SYPR"
cik: "0000864240"
company_name: "SYPRIS SOLUTIONS INC"
filed_at: "2024-02-13T23:59:59+00:00"
generated_at: "2026-06-06T03:58:32.679982+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sypris Solutions closes $9M amended promissory note with insider lender, adds $2.5M

## Summary
- GFCM (entity controlled by CEO Jeffrey Gill and director R. Scott Gill) increased principal to $9M from $6.5M via $2.5M new loan.
- Maturity date April 1, 2027; variable interest rate at greater of 8% or 500 bps above 5-year Treasury.
- Scheduled principal payments: $2M by Apr 1, 2025; $2M by Apr 1, 2026; balance at maturity.
- Note secured by first-priority security interest in substantially all assets of Sypris and its subsidiaries.
- Makers may defer up to 60% of interest payments until April 1, 2025 at their election.

## SEC filing metadata
- accession: 0001437749-24-003821
- form_type: 8-K
- ticker: SYPR
- cik: 0000864240
- company_name: SYPRIS SOLUTIONS INC
- filed_at: 2024-02-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/864240/000143774924003821/0001437749-24-003821-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/864240/000143774924003821/sypr20240208_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-003821
- JSON: https://secwatch.observer/filing/0001437749-24-003821.json
- Plain text: https://secwatch.observer/filing/0001437749-24-003821.txt

## Key facts
- Debt Financings
  SYPRIS SOLUTIONS INC incurred loan of $2,500,000 with Gill Family Capital Management, Inc..
  - Instrument: loan
  - Principal: $2,500,000
  - Counterparty: Gill Family Capital Management, Inc.
  - Event: incurrence
  source text: GFCM made a $2,500,000 loan to the Company to bring the total amount of the principal up to $9,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/864240/000143774924003821/0001437749-24-003821-index.htm
- Material Agreements
  SYPRIS SOLUTIONS INC amended Amended and Restated Promissory Note with Gill Family Capital Management, Inc. valued at $2,500,000 (effective 2024-02-07).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Gill Family Capital Management, Inc.
  - Value: $2,500,000
  - Effective: 2024-02-07
  source text: On February 7, 2024, Sypris Solutions, Inc. (the “Company”) and certain of its subsidiaries amended and restated its Amended and Restated Promissory Note dated November 10, 2023 (the “2023 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 “2024 Promissory Note”). Pursuant to the 2024 Promissory Note, GFCM made a $2,500,000 loan to the Company to bring the total amount of the principal up to $9,000,000, effective February 7, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/864240/000143774924003821/0001437749-24-003821-index.htm

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