Material Agreement Form 8 K

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 (iii) certain conditions precedent to the effectiveness of the AECOM and BHSI Amendment, including delivery of the MidCap Amendment.

The foregoing description of the AECOM and BHSI 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 10.2 to this Current Report on Form 8-K.