The reduction in ATM capacity is a marginal positive, but the core story remains the operational turnaround signaled by Q1 earnings (positive adjusted EBITDA, strong backlog). Monitor for any actual ATM usage and upcoming quarterly results.
Price Chart
Executive Summary
Shimmick Corp reduced its at-the-market offering capacity from $7.8M to $4.98675M via a prospectus supplement, with no shares sold to date. The reduction likely reflects compliance with the "baby shelf" rule given the company's public float of ~$33.4M, and is a minor positive as it caps potential dilution.
Key Facts
- Offering size reduced from $7,800,000 to $4,986,750 under the existing ATM agreement with Roth Capital Partners.
- No shares of common stock have been sold under the ATM program to date.
- Aggregate market value of non-affiliate-held common stock is approximately $33.4 million, capping future issuance under I.B.6 at ~$11.1M over 12 months.
- Closing price on May 21, 2026 was $4.03 per share; market cap ~$148M.
Financial Impact
Reduction of ~$2.8M in registered offering capacity, representing ~1.9% of current market cap
Risk Factors
- ATM sales could still occur, causing dilution.
- Revenue declined 28% YoY in Q1 2026 despite margin improvement.
- Continued net losses and reliance on backlog conversion.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-237198 |
| Document: 0001193125-26-237198-index-headers.html | 0001193125-26-237198 |
| Document: 0001193125-26-237198-index.html | 0001193125-26-237198 |
| Document: 0001193125-26-237198.txt | 0001193125-26-237198 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | 8-K | $3.13 | awaiting T+20 | — | $2.38 (−23.96%) |
Aug 10, 2026 11w ago | 8-K | $3.94 $3.47 | ▼ −11.93% | ▼ −10.87% | $2.38 (−39.59%) |
Aug 10, 2026 11w ago | Press Release | $3.94 $3.47 | ▲ +11.93% | ▲ +10.87% | $2.38 (+39.59%) |
May 26, 2026 22w ago | 8-K | $3.59 $4.08 | ▼ −13.65% | ▼ −15.55% | $2.38 (+33.70%) |
May 22, 2026 22w ago | 424B5 | $3.83 $3.54 | ▲ +7.70% | ▲ +5.75% | $2.38 (+37.86%) |
May 22, 2026 22w ago | 424B5 | $3.83 $3.54 | ▼ −7.70% | ▼ −5.75% | $2.38 (−37.86%) |
May 22, 2026 22w ago | Press Release | $3.70 $3.76 | ▼ −1.57% | ▼ −2.98% | $2.38 (+35.68%) |
Mar 12, 2026 32w ago | Press Release | $3.21 $3.91 | ▲ +21.81% | ▲ +18.22% | $2.38 (−25.86%) |
US Market Status
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