Sypris Solutions increases insider promissory note by $3M to $12M, extends maturity to 2029

SYPRIS SOLUTIONS INC

Amended promissory note with GFCM (insider controlled by CEO/director) increases total principal to $12M from $9M.
Repayment schedule: $2M due Apr 1, 2026; $2M Apr 1, 2027; $5M Apr 1, 2028; $3M Apr 1, 2029.
Interest variable per annum: greater of 8% or 500 bps above 5-yr UST, adjusted each April 1.
Makers can defer up to 100% of quarterly interest payments until April 1, 2026.
Note secured by first-priority security interest in all assets of Makers and guarantors.

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