10:38 AM EDT, 05/28/2025 (MT Newswires) -- Shimmick ( SHIM ) shares rose 4.3% in recent trading Wednesday after the company received a combined $30 million in financing from Ares Management ( ARES ) affiliates, aimed at refinancing existing debt and boosting liquidity.

Ares Commercial Finance provided a $15 million senior secured revolving line of credit, and the Ansley Park Capital affiliate extended a $15 million machinery and equipment term loan.

"Our goal from the beginning was to provide Shimmick ( SHIM ) with a one-stop solution for working capital and equipment finance needs," Mitch Drucker, a partner at Ares Commercial Finance, said Wednesday in a statement.

Ares Management ( ARES ) shares rose 0.1%.

Price: 1.85, Change: +0.08, Percent Change: +4.29