Shimmick Corp. Files 8-K for Material Definitive Agreement

TL;DR

Shimmick Corp. signed a big deal, filing an 8-K on 9/25/24.

AI Summary

Shimmick Corp. entered into a material definitive agreement on September 25, 2024. The company, incorporated in Delaware with its principal executive offices in Irvine, CA, filed an 8-K report detailing this agreement. The filing also includes financial statements and exhibits.

Why It Matters

This filing indicates a significant new contract or partnership for Shimmick Corp., which could impact its future revenue and operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, the specifics of which are not detailed in this initial 8-K filing.

Key Numbers

• 001-41867 — SEC File Number (Identifies Shimmick Corp.'s filing with the SEC.)
• 84-3749368 — IRS Employer Identification No. (Tax identification number for Shimmick Corp.)

Key Players & Entities

• Shimmick Corp. (company) — Registrant
• September 25, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• Irvine, CA (location) — Principal Executive Offices
• SCCI National Holdings, Inc. (company) — Former Company Name

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share SHIM NASDAQ Indicate by
• $15 million — to provide for a borrowing capacity of $15 million and an extension of the maturity date t

Filing Documents

• shim-20240925.htm (8-K) — 56KB
• shim-ex10_1.htm (EX-10.1) — 118KB
• shim-ex10_2.htm (EX-10.2) — 125KB
• 0000950170-24-109469.txt ( ) — 454KB
• shim-20240925.xsd (EX-101.SCH) — 27KB
• shim-20240925_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 25, 2024 (the "Amendment Effective Date"), Shimmick Corporation (the "Company"), entered into an amendment of the MidCap Revolving Credit Facility to provide for a borrowing capacity of $15 million and an extension of the maturity date to December 31, 2024. The Company also entered into an amendment to its existing credit facility, the AECOM and Berkshire Hathaway Specialty Insurance Company ("BHSI") Credit Facility. A summary of the amendments is included below. Amendment to MidCap Revolving Credit Facility On the Amendment Effective Date, the Company entered into Amendment No. 5 (the "MidCap Amendment") to its existing Revolving Credit Facility, dated March 27, 2023, with MidCap Financial Services, LLC. The MidCap Amendment, among other things, provides for a borrowing capacity of $15 million (of which there is no capacity and no drawn amounts as of today, September 26, 2024), extends the maturity date to December 31, 2024 (with the option to extend the maturity date for an additional 90 days), and provides for additional draw conditions on such commitments. The foregoing description of the MidCap Amendment does not purport to be complete and is subject to, and qualified in its entirety by, reference to the full text of such agreement, which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K. Amendment to AECOM and BHSI Credit Facility On the Amendment Effective Date, the Company entered into Amendment No. 1 (the "AECOM and BHSI Amendment") to its existing Credit Facility, dated May 20, 2024, with AECOM and BHSI. The AECOM and BHSI Amendment, among other things, provides (i) that AECOM and BHSI have consented to the execution of the MidCap Amendment (defined above), (ii) for certain additional mandatory prepayments of the indebtedness if the loans under the MidCap Amendment are not utilized within 5 business days or for the uses provided in the MidCap Amendment and (i

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 10.1 Amendment No. 5 to Credit, Security and Guaranty Agreement, dated September 25, 2024, by and among Shimmick Construction Company, Inc., Rust Constructors Inc., The Leasing Corporation, SCCI National Holdings, Inc., MidCap Funding IV Trust and other parties thereto 10.2 Amendment No. 1 to Credit, Security and Guaranty Agreement, dated September 25, 2024, by and among Shimmick Construction Company, Inc., Rust Constructors Inc., The Leasing Corporation, Shimmick Corporation, the other guarantors party thereto, the agent thereunder, and the lenders time to time party thereto 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Shimmick Corporation Date: September 26, 2024 By: /s/ John Carpenter John Carpenter Executive Vice President and General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR