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AI brief of an SEC Form 8-K · Shimmick Corp (SHIM)

Shimmick signs $14.3 million secured loan at 9.31%, repays Ansley Park Capital loan

Neutral Impact 2 of 5 financing Written later

On October 2, 2026, Shimmick Corporation's subsidiary Shimmick Construction Company entered a Loan and Security Agreement with Sixty-First Commercial Finance for up to $14.3 million, due October 2, 2031, at 9.31% per annum. The company used the proceeds to fully repay and terminate its prior loan with Ansley Park Capital LLC, and it amended its revolving credit facility and ACF FINCO credit agreement to reference the new loan. Shareholders should note the loan is secured by equipment and related collateral and is guaranteed by the parent company.

Key points

  • Loan of up to $14.3 million from Sixty-First Commercial Finance, dated October 2, 2026, maturing October 2, 2031
  • Interest rate of 9.31% per annum; default rate up to the lesser of 15.0% or the legal maximum
  • Collateral includes specified equipment and related software, contracts, insurance rights and proceeds; Company and a subsidiary provide guaranties
  • Prior Ansley Park Capital LLC loan from March 12, 2025 was fully repaid and terminated on the same date

The filing

CompanyShimmick Corp (SHIM)
Form8-K, current report
Filed with the SECOct 8, 2026, 5:20 PM ET
Accession number0001193125-26-418076

Items reported: 1.01 Material Definitive Agreement1.02 Termination of Material Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 08, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.