SYPRIS SOLUTIONS INC (SYPR): debt financing — 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.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

SYPRIS SOLUTIONS INC amended loan of $12,000,000 with Gill Family Capital Management, Inc..

Instrument: loan
Principal: $12,000,000
Counterparty: Gill Family Capital Management, Inc.
Event: amendment

Exact text from the filing

(the “March 2025 Promissory Note”). Pursuant to the March 2025 Promissory Note, GFCM will make a $3,000,000 loan to the Company to bring the total amount of the principal up to $12,000,000. Under the March 2025 Promissory Note, $2,000,000 of the Company’s principal commitment is due on April 1, 2026, $2,000,000 is due on April 1, 2027, $5,000,000 is due on April 1,

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Source: SEC EDGAR

accession 0001437749-25-008836

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