Sypris Solutions Enters Material Definitive Agreement

TL;DR

Sypris Solutions just signed a big deal, filing an 8-K for a material definitive agreement.

AI Summary

Sypris Solutions, Inc. entered into a material definitive agreement on January 20, 2025, related to a direct financial obligation. The filing also includes financial statements and exhibits.

Why It Matters

This filing indicates a significant financial commitment or obligation for Sypris Solutions, Inc., which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks that require careful evaluation.

Key Players & Entities

• Sypris Solutions, Inc. (company) — Registrant
• January 20, 2025 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ge on which registered Common Stock , $0.01 par value SYPR NASDAQ Global Select
• $2,000,000 — , 2025. Under the 2025 Promissory Note, $2,000,000 of the Company's principal commitment i
• $5,000,000 — due on April 1, 2027 and the balance of $5,000,000 is due on April 1, 2028. All other ter

Filing Documents

• sypr20250122_8k.htm (8-K) — 32KB
• ex_768814.htm (EX-10.1) — 125KB
• 0001437749-25-001742.txt ( ) — 308KB
• sypr-20250120.xsd (EX-101.SCH) — 3KB
• sypr-20250120_def.xml (EX-101.DEF) — 12KB
• sypr-20250120_lab.xml (EX-101.LAB) — 15KB
• sypr-20250120_pre.xml (EX-101.PRE) — 12KB
• sypr20250122_8k_htm.xml (XML) — 3KB

01. Entry Into a Material Agreement

Item 1.01. Entry Into a Material Agreement. Amended and Restated Promissory Note On January 20, 2025, Sypris Solutions, Inc. (the "Company") and certain of its subsidiaries amended and restated its Amended and Restated Promissory Note dated February 7, 2024 (the "2024 Promissory Note") in favor of Gill Family Capital Management, Inc., an entity controlled by the Company's president and chief executive officer, Jeffrey T. Gill and one of its directors, R. Scott Gill (the "2025 Promissory Note"). Pursuant to the 2025 Promissory Note, the parties extended the maturity date and each principal and interest payment date by one (1) year, effective January 20, 2025. Under the 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 and the balance of $5,000,000 is due on April 1, 2028. All other terms of the 2024 Promissory Note remain in place. The foregoing does not purport to be a complete description of the terms of the 2025 Promissory Note and such description is qualified in its entirety by reference to the 2025 Promissory Note, which is filed as Exhibit 10.1 to this Current Report on Form 8-K. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01 Financial Statements & Exhibits

Item 9.01 Financial Statements & Exhibits (d) Exhibits 10.1 Amended and Restated Promissory Note between Sypris Solutions, Inc., Sypris Technologies, Inc., Sypris Electronics, LLC, Sypris Technologies Marion, LLC, Sypris Technologies Mexican Holdings, LLC, Sypris Technologies Northern, Inc., Sypris Technologies Southern, Inc. and Sypris Technologies International, Inc. dated as of January 20, 2025. 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. Dated: January 24, 2025 Sypris Solutions, Inc. By: /s/ Rebecca R. Eckert Rebecca R. Eckert Vice President, Chief Accounting Officer & Controller

View Full Filing

View this 8-K filing on SEC EDGAR