Sypris Solutions extends $9M promissory note with CEO-related entity to April 2028

SYPRIS SOLUTIONS INC

Amended and restated $9M promissory note with Gill Family Capital Management (controlled by CEO Jeffrey Gill and director R. Scott Gill) effective Jan 20, 2025.
Maturity extended by one year to April 1, 2028; principal due: $2M Apr 1, 2026, $2M Apr 1, 2027, $5M balance Apr 1, 2028.
Interest rate variable: greater of 8% or 500 bps above 5-year Treasury; reset annually; default rate 10%.
Note secured by first-priority security interest in all assets of Sypris and its subsidiaries; additional purchase-money debt permitted.
No new funds advanced; existing debt restructured, extending repayment timeline.

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