AECOM Amends Shimmick Corp 13D Filing

TL;DR

AECOM updated its Shimmick Corp filing, no major changes reported.

AI Summary

AECOM has filed an amendment (Amendment No. 2) to its Schedule 13D concerning Shimmick Corporation, as of September 27, 2024. This filing indicates a change in the reporting of beneficial ownership, with AECOM continuing to be a significant holder. The filing does not specify new dollar amounts or significant transactions but updates the reporting status.

Why It Matters

This filing updates AECOM's stake in Shimmick Corporation, providing transparency for investors regarding significant ownership changes or confirmations.

Risk Assessment

Risk Level: low — The filing is an amendment to a previous filing and does not report new material events or significant changes in ownership.

Key Players & Entities

• AECOM (company) — Filer of the Schedule 13D/A
• Shimmick Corporation (company) — Subject company of the Schedule 13D/A
• David Y. Gan (person) — Executive Vice President, Chief Legal Officer at AECOM

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common stock, par value $0.01 per share (Title of Class of Securiti
• $60 million — ement provides borrowing capacity up to $60 million. The obligations under the Credit Agree

Filing Documents

• tm2425153d1_sc13da.htm (SC 13D/A) — 41KB
• 0001104659-24-103775.txt ( ) — 43KB

Purpose of Transaction

Item 4. Purpose of Transaction.

of the Schedule 13D is hereby

Item 4 of the Schedule 13D is hereby amended and supplemented by amending and restating the disclosure under the subheading "Credit Agreement" to read as follows: Credit Agreement On May 20, 2024, the Issuer, as guarantor, and its wholly-owned subsidiaries as borrowers ("Borrowers"), Alter Domus (US) LLC, as agent (the "Agent"), and the Reporting Person and Berkshire Hathaway Specialty Insurance Company ("BHSI") as lenders, entered into a revolving credit facility (the "Credit Agreement"). The Credit Agreement provides borrowing capacity up to $60 million. The obligations under the Credit Agreement bear interest at a per annum rate equal to one month Term SOFR (as defined in the Credit Agreement), subject to a 1.00% floor, plus 3.50%. Interest on any outstanding amounts drawn under the Credit Agreement will be payable, in kind or in cash at the election of the Issuer, on the last day of each month and upon prepayment. The Issuer expects to use the proceeds from the Credit Agreement for general corporate purposes. The Credit Agreement matures on May 20, 2029 (the "Maturity Date"), and the Borrowers may borrow, repay and reborrow amounts under the Credit Agreement until the Maturity Date. Obligations of the Borrowers under the Credit Agreement are guaranteed by the Issuer, and secured by a lien on substantially all assets of the Issuer and the Borrowers. The Credit Agreement contains customary affirmative and negative covenants for a transaction of this type, including covenants that limit liens, asset sales and investments, in each case subject to negotiated exceptions and baskets. In addition, the Credit Agreement contains a maximum leverage ratio covenant that will be tested starting in the third quarter of fiscal year 2025. The Credit Agreement also contains representations and warranties and event of default provisions customary for a transaction of this type. On September 25, 2024, the Issuer entered into Amendment No. 1 (the "Credit Agreement Amendment")

Material to Be Filed as Exhibits

Item 7. Material to Be Filed as Exhibits.

of the Schedule 13D is hereby

Item 7 of the Schedule 13D is hereby amended and supplemented by adding the following exhibit: Exhibit 99.7 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 (incorporated by reference to Exhibit 10.2 to the Issuer's Current Report on Form 8-K filed with the SEC on September 26, 2024) SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct. Date: September 27, 2024 AECOM By: /s/ David Y. Gan Name: David Y. Gan Title: Executive Vice President, Chief Legal Officer

View Full Filing

View this SC 13D/A filing on SEC EDGAR