Business
Shimmick Corporation Announces Closing of Underwritten Public Offering of Common Stock
IRVINE, Calif., May 26, 2026 (GLOBE NEWSWIRE) -- Shimmick Corporation (NASDAQ: SHIM), a leading infrastructure solutions provider specializing in water, electrical, and other critical infrastructure construction services, today announced the successful closing of its previously announced underwritten public offering of 3,730,000 shares of its common stock at a public offering price of $3.50 per share. In connection with the offering, the underwriter fully exercised its 30-day option to purchase
About this update from Shimmick Corporation
[{"type":"text","content":"IRVINE, Calif., May 26, 2026 (GLOBE NEWSWIRE) -- Shimmick Corporation (NASDAQ: SHIM), a leading infrastructure solutions provider specializing in water, electrical, and other critical infrastructure construction services, today announced the successful closing of its previously announced underwritten public offering of 3,730,000 shares of its common stock at a public offering price of $3.50 per share.","length":404,"tagName":"p"},{"type":"text","content":"In connection with the offering, the underwriter fully exercised its 30-day option to purchase an additional 559,500 shares of common stock to cover overallotments.","length":164,"tagName":"p"},{"type":"text","content":"As a result, Shimmick sold an aggregate of 4,289,500 shares in the offering and received net proceeds of approximately $14.0 million, after deducting underwriting discounts and estimated offering expenses.","length":205,"tagName":"p"},{"type":"text","content":"Roth Capital Partners acted as sole manager for the offering.","length":61,"tagName":"p"},{"type":"text","content":"Shimmick intends to use the net proceeds from the offering for working capital and general corporate purposes.","length":110,"tagName":"p"},{"type":"text","content":"The shares of common stock were offered by Shimmick pursuant to a “shelf” registration statement on Form S-3 (File No. 333-288513) previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective on July 10, 2025. The offering was made only by means of a prospectus supplement and accompanying prospectus filed with the SEC on May 22, 2026. Copies of the prospectus supplement and accompanying prospectus may be obtained from the SEC’s website at www.sec.gov or from Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, telephone: (800) 678-9147.","length":612,"tagName":"p"},{"type":"text","content":"This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.","length":366,"tagName":"p"},{"type":"text","content":"About Shimmick Corporation","length":26,"tagName":"p"},{"...