Material Agreement, Financial Obligation, Termination of Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

On October 2, 2026 (the "Closing Date"), Shimmick Corporation (the "Company"), through its wholly-owned subsidiary Shimmick Construction Company, Inc. (the "Borrower"), and Sixty-First Commercial Finance, LLC (the "Lender") entered into a Loan and Security Agreement (the "Loan Agreement") which provides for a borrowing capacity of $14.3 million as evidenced by a promissory note (the "Promissory Note"). The Company intends to use the proceeds received from the Promissory Note for project expenses and for other general corporate purposes.

The Promissory Note has a maturity date of October 2, 2031, and accrues interest at a rate of 9.31% per annum (the "Interest Rate"). Upon the occurrence of any Default (as defined in the Loan Agreement), the Lender is entitled to receive interest at a default rate of the lesser of 15.0% per annum and the maximum rate of interest allowable under then applicable law. The Lender may also declare the debt and other obligations of the Borrower to be immediately due and payable upon the occurrence of any Default, subject to applicable cure periods.

Pursuant to the terms of the Loan Agreement, the Borrower granted a security interest in (a) certain items of equipment, including replacements and additions, described therein (the "Equipment"), (b) all embedded and other software and intellectual property and other intangible rights, relating to the Equipment, (c) any cash and cash-equivalent deposits made by Borrower with Lender in connection with the Promissory Note, (d) all chattel paper, rights under contracts, documents and other rights and general intangibles relating to the sale or transfer of the Equipment or other Collateral (as defined below), (e) all rights relating to any insurance, indemnity, warranty or guaranty with respect to the Equipment or other Collateral, and any proceeds in the form of goods, (f) any and all substitutions, replacements or exchanges for the Equipment or other Collateral, (g) all books and records regarding the foregoing, and (h) any and all proceeds thereof as collateral for the payments under the Loan Agreement and Promissory Note ((a) through (h) collectively, the "Collateral"). The Loan Agreement contains customary affirmative and negative covenants for a transaction of this type.

In connection with the Loan Agreement, each of the Company and a wholly-owned subsidiary of the Company entered into a separate guaranty agreement (each, a "Guaranty Agreement," and together, the "Guaranty Agreement") in favor of the Lender unconditionally guaranteeing liabilities of the Borrower under the Loan Agreement.

Upon the execution of the Loan Agreement, on the Closing Date, the Company fully repaid all amounts outstanding under and terminated the Loan and Security Agreement with Ansley Park Capital LLC previously entered into on March 12, 2025 (the "Previous Loan Agreement").

In connection with the entry into the Loan Agreement, Promissory Note and Guaranty Agreement and the termination of the Previous Loan Agreement, on the Closing Date, the Company also entered into an amendment (the "BHSI Credit Agreement Amendment") to its revolving credit facility with Alter Domus (US) LLC, as agent, and AECOM and Berkshire Hathaway Specialty Insurance Company, as lenders, and an amendment (the "ACF Credit Agreement Amendment," and together with the BHSI Credit Agreement Amendment, the "Credit Agreement Amendments") to its credit agreement with ACF FINCO I LP to replace references to the Previous Loan Agreement with references to the Loan Agreement. The remaining terms of each Credit Agreement Amendment are substantially the same as the existing terms in each Credit Agreement in effect prior to the date hereof.

The foregoing descriptions of the Loan Agreement, Promissory Note, Guaranty Agreement, BHSI Credit Agreement Amendment, and ACF Credit Agreement Amendment do not purport to be complete and are subject to, and qualified in their entirety by, reference to the full text of the Loan Agreement, Form of the Promissory Note, Form of the Guaranty Agreement, BHSI Credit Agreement Amendment, and ACF Credit Agreement Amendment, respectively, which are attached as Exhibits 10.1, 10.2, 10.3, 10.4 and 10.5 to this Current Report on Form 8-K.

Item 1.02 Termination of a Material Definitive Agreement.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 1.02 by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.