IRVINE, Calif., May  22, 2026  (GLOBE NEWSWIRE) -- Shimmick Corporation (NASDAQ:SHIM), a leading infrastructure solutions provider in water, electrical and other critical infrastructure construction services, today

SHIM

Shimmick Corporation Prices Underwritten Public Offering of Common Stock

Shimmick Corporation Engages in $12.2 Million Stock Offering

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>IRVINE, Calif., May  22, 2026  (GLOBE NEWSWIRE) -- Shimmick Corporation (NASDAQ:SHIM), a leading infrastructure solutions provider in water, electrical and other critical infrastructure construction services, today</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Shimmick Corporation is proceeding with a public offering of 3.73 million shares at $3.50 each, generating approximately $12.2 million in net proceeds for working capital. The offering may enhance liquidity but could dilute existing shares. Closing is set for May 26, 2026, under typical conditions.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Shimmick Corporation announced a public offering of 3.73 million shares.</li><li>Shares priced at $3.50 with expected proceeds of $12.2 million.</li><li>Offering will close on May 26, 2026, pending conditions.</li><li>Use of proceeds includes working capital and general corporate purposes.</li><li>Roth Capital Partners is the sole manager of the offering.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Roth Capital Partners (N/A)</strong>: Acting as sole manager for Shimmick&#039;s public offering.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This press release fits the &#039;Corporate Developments&#039; category as it details a capital raising effort that could influence Shimmick&#039;s financial health and strategic direction. Potential dilution and liquidity improvements are primary concerns for investors.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The public offering could dilute existing shareholder value by increasing share supply.</li><li>The pricing of $3.50 may indicate current market valuation challenges.</li><li>Successful closure of the offering could bolster liquidity for strategic investments.</li><li>Demand for shares in the offering may reflect investor sentiment toward SHIM&#039;s growth potential.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>3,730,000 shares offered at $3.50 each.</li><li>Expected net proceeds of approximately $12.2 million.</li><li>Offering to close on May 26, 2026, pending conditions.</li><li>Roth Capital Partners is the sole underwriter.</li><li>Company uses proceeds for working capital and corporate purposes.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>SHIM may experience short-term price pressure due to potential dilution from the offering.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">IRVINE, Calif., May  22, 2026  (GLOBE NEWSWIRE) -- Shimmick Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SHIM">SHIM</a>), a leading infrastructure solutions provider in water, electrical and other critical infrastructure construction services, today announced the pricing of an underwritten public offering of 3,730,000 shares of its common stock at a price of $3.50 per share. The company has also granted to the underwriters a 30-day option to acquire an additional 559,500 shares to cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $12.2 million, assuming no exercise of the overallotment option. The offering is expected to close on May 26, 2026, subject to customary closing conditions.</p>  <p align="justify">Roth Capital Partners is acting as sole manager for the offering.</p>  <p align="justify">Shimmick Corporation intends to use the net proceeds from the offering for working capital and general corporate purposes.  </p>  <p align="justify">The shares of common stock are being 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 by the SEC on July 10, 2025. The public offering of common stock is being made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement and the accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC and available on the SEC&#39;s website at <a href="http://www.sec.gov" title="http://www.sec.gov">http://www.sec.gov</a>. When available, copies of the prospectus supplement and accompanying base prospectus relating to this offering may also be obtained from Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147.</p>  <p align="justify">This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the 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.</p>  <p align="justify"><strong>About Shimmick Corporation</strong></p>  <p align="justify">Shimmick Corporation (&#34;Shimmick&#34;, the &#34;Company&#34;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SHIM">SHIM</a>) is an industry leader in delivering turnkey infrastructure solutions that strengthen critical markets across water, energy, climate resiliency, and sustainable transportation. With a track record that spans over a century, Shimmick, headquartered in California, unites deep engineering heritage with entrepreneurial spirit to tackle today&#39;s most complex infrastructure challenges. We integrate technical excellence with collaborative project delivery methods to provide innovative, technology-driven infrastructure solutions that accelerate economic growth and empower communities nationwide. For more information, visit <a href="http://www.shimmick.com" title="www.shimmick.com">www.shimmick.com</a>.</p>  <p align="justify"><strong>Forward-Looking Statements</strong></p>  <p align="justify">This release contains forward-looking statements within the meaning of U.S. federal securities laws. These forward-looking statements are often characterized by the use of words such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar words. Forward-looking statements are only predictions based on our current expectations and our projections about future events, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances, including, but not limited to, unanticipated events, after the date on which such statement is made, unless otherwise required by law. Forward-looking statements contained in this release include, but are not limited to, statements about our public offering, including the size and timing of the public offering[, the granting of an option by us to the underwriters to purchase additional shares of common stock from us] and the proposed use of proceeds of the public offering. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Forward-looking statements are only predictions based on our current expectations and our projections about future events, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances, including, but not limited to, unanticipated events, after the date on which such statement is made, unless otherwise required by law.</p>  <p align="justify">We wish to caution readers that, although we believe any forward-looking statements are based on reasonable assumptions, certain important factors may have affected and could in the future affect our actual financial results and could cause our actual financial results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on our behalf, including, but not limited to, the following: our ability to accurately estimate risks, requirements or costs when we bid on or negotiate a contract; the impact of our fixed-price contracts; qualifying as an eligible bidder for contracts; the availability of qualified personnel, joint venture partners and subcontractors; inability to attract and retain qualified managers and skilled employees and the impact of loss of key management; higher costs to lease, acquire and maintain equipment necessary for our operations or a decline in the market value of owned equipment; subcontractors failing to satisfy their obligations to us or other parties or any inability to maintain subcontractor relationships; marketplace competition; our inability to obtain bonding; our limited operating history as an independent company following our separation from AECOM, our prior owner our relationship and transactions with our prior owner; our prior owner defaulting on its contractual obligations to us or under agreements in which we are beneficiary; our limited number of customers; any inability to successfully expand our business into new markets or geographies; dependence on subcontractors and suppliers of materials; any inability to secure sufficient aggregates; an inability to complete a merger or acquisition or to integrate an acquired company's business; adjustments in our contract backlog; accounting for our revenue and costs involves significant estimates, as does our use of the input method of revenue recognition based on costs incurred relative to total expected costs; material impairments; any failure to comply with covenants under any current indebtedness, and future indebtedness we may incur; the adequacy of sources of liquidity; the outcome of any legal or regulatory proceedings to which we are, or may become, a party, including our appeal of the USACE's notice of termination related to the Chickamauga Lock project; the effectiveness of our disclosure controls and procedures; cybersecurity attacks against, disruptions, failures or security breaches of, our information technology systems; seasonality of our business; commodity products price fluctuations, inflation (and actions taken by monetary authorities in response to inflation) and/or elevated interest rates; climate change; deterioration of the U.S. economy; changes in state and federal laws, regulations or policies under the current presidential administration, including changes in trade policies and regulations, including increases or changes in duties, current and potentially new tariffs or quotas and other similar measures, as well as the impact of retaliatory tariffs and other actions, changes to tax legislation, including the passage of the One Big Beautiful Bill Act, potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, changes to immigration laws, as well as other legislation and executive orders or decreases or delays in or uncertainties related to governmental spending, and geopolitical risks, including those related to the war between Russia and Ukraine and the conflict and potential regime change in Iran, as well as other hostilities in the Middle East, and related disruptions to global energy markets; and other risks detailed in our filings with the Securities and Exchange Commission, including the "Risk Factors" section in our Annual Report on Form 10-K for the fiscal year ended January 2, 2026 and those described from time to time in our future reports with the SEC.</p>  <p align="justify"><strong>Investor Relations</strong>: <a href="mailto:IR@shimmick.com">IR@shimmick.com</a> 1-949-704-2350</p>  <p align="justify"><strong>Media Contact</strong>: Lee Ann Ballew <a href="mailto:LeeAnn.Ballew@shimmick.com">LeeAnn.Ballew@shimmick.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTcyNTMyNiM3NjE3MjQzIzIwMjU4MzQ="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/NmQwMDIzNTUtOWY0OC00ODAxLTg5ODEtYWY0YTZiYzQ5NDAwLTEwMzc0MDYtMjAyNi0wNS0yMi1lbg==/tiny/Shimmick-Corporation.png" referrerpolicy="no-referrer-when-downgrade"></img>

Shimmick Corporation is proceeding with a public offering of 3.73 million shares at $3.50 each, generating approximately $12.2 million in net proceeds for working capital. The offering may enhance liquidity but could dilute existing shares. Closing is set for May 26, 2026, under typical conditions.

Shimmick Corporation Prices Underwritten Public Offering of Common Stock

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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