SHIM news

Shimmick Construction Company, Inc. entered into a Master Loan and Security Agreement with Sixty-First Commercial Finance, LLC for equipment financing. The agreement includes an initial Advance of $14.3 million.

Shimmick Corp reported a net loss of $5 million and increased its total backlog to a record high of $991 million, driven by strong water and electrical markets.

Shimmick Corporation is issuing 3.73 million shares of common stock with an option for an additional 559,500 shares through an underwriting agreement led by Roth Capital Partners. The offering is registered on Form S-3 and represents a capital raise for the construction services company.