NN, Inc. Announces $50 Million Net Private Placement of Common Stock and Pre-Funded Warrants
Key Highlights
- ➤NN (NNBR) raises approximately $50 million net through PIPE financing
- ➤NN (NNBR) issues 16.1 million shares or pre-funded warrants at $3.30
- ➤NN (NNBR) will use most proceeds to eliminate remaining Series D preferred stock
- ➤NN (NNBR) secured approximately $130 million of annual new business over 12 months
- ➤NN (NNBR) plans to refinance high-cost Term Loan for cash interest reduction
Expert Statements
Harold Bevis, President and CEO of NN, Inc.
“NN has transformed its financial profile during 2026 with strong operating performance and several capital markets actions.”
Harold Bevis, President and CEO of NN, Inc.
“The Company is moving along its multi-year path.”
Harold Bevis, President and CEO of NN, Inc.
“This PIPE transaction completes a significant step in our balance sheet evolution.”
Harold Bevis, President and CEO of NN, Inc.
“We are eliminating the Series D preferred stock with this action and setting the Company up for its next phase of growth and common stock value increases.”
Harold Bevis, President and CEO of NN, Inc.
“We have a great set of investors now and together we are committed to breakthrough, exceptional performance.”
Harold Bevis, President and CEO of NN, Inc.
“Next up for NN is to refinance its high-cost Term Loan.”
Harold Bevis, President and CEO of NN, Inc.
“We believe we can achieve a strong multi-million dollar cash interest reduction and further increase value for our common stock holders.”
Harold Bevis, President and CEO of NN, Inc.
“NN’s key target markets of Data Center, Defense & Electronics, and Medical Products are strong and we are expanding our presence in them.”
Harold Bevis, President and CEO of NN, Inc.
“Our business development team is prospecting and winning new business big-time.”
Harold Bevis, President and CEO of NN, Inc.
“We have won over 200 programs this year and the year is not over.”
Harold Bevis, President and CEO of NN, Inc.
“Importantly, we are in full-scale launch mode to bring these new wins online and into our sales streams to further boost our sales.”
Harold Bevis, President and CEO of NN, Inc.
“Our best days are before us.”
CHARLOTTE, N.C., Oct. 02, 2026 (GLOBE NEWSWIRE) -- NN, Inc. (“NN” or the “Company”) (NASDAQ: NNBR), a global leader in precision manufacturing, today announced it has entered into a securities purchase agreement for a private investment in public equity financing (the “PIPE”) that is expected to result in net proceeds of approximately $50 million after deducting placement agent fees and offering expenses. The PIPE is expected to close on or about October 5, 2026, subject to the satisfaction of customary closing conditions.
Pursuant to the terms of the securities purchase agreement, at the closing of the PIPE, NN will issue an aggregate of 16.1 million shares of common stock (or prefunded warrants in lieu thereof) at a price of $3.30 per share (or $3.29 per pre-funded warrant). Each pre-funded warrant has an exercise price of $0.01 per share of common stock, will be immediately exercisable, subject to certain conditions set forth in each pre-funded warrant, and will not expire.
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