{"success":true,"data":{"pressRelease":{"id":"159319","rtpr_id":"nGNX7zqCjb-20261002","ticker":"NNBR","exchange":"NASDAQ","all_tickers":["NNBR"],"title":"NN, Inc. Announces $50 Million Net Private Placement of Common Stock and Pre-Funded Warrants","author":"Globe Newswire","published_at":"2026-10-02T12:00:00.511Z","article_body":"CHARLOTTE, N.C., Oct. 02, 2026 (GLOBE NEWSWIRE) -- NN, Inc. (“NN” or the\n“Company”) (NASDAQ: NNBR), a global leader in precision manufacturing,\ntoday announced it has entered into a securities purchase agreement for a\nprivate investment in public equity financing (the “PIPE”) that is\nexpected to result in net proceeds of approximately $50 million after\ndeducting placement agent fees and offering expenses. The PIPE is expected to\nclose on or about October 5, 2026, subject to the satisfaction of customary\nclosing conditions.\n\nCapital Raise Overview\n\nPursuant to the terms of the securities purchase agreement, at the closing of\nthe PIPE, NN will issue an aggregate of 16.1 million shares of common stock\n(or prefunded warrants in lieu thereof) at a price of $3.30 per share (or\n$3.29 per pre-funded warrant). Each pre-funded warrant has an exercise price\nof $0.01 per share of common stock, will be immediately exercisable, subject\nto certain conditions set forth in each pre-funded warrant, and will not\nexpire.\n\nThere are 10 investors making this investment from a mix of both existing\nshareholders and new shareholders. The investment was significantly\nover-subscribed and allocations were made across the investor base. The\ncapital raise was enabled by the Company’s recent increase of its authorized\ncommon stock achieved via shareholder vote.\n\nUse of Proceeds and Update\n\nPreferred Stock Elimination and Deleverage - NN will use the majority of the\nnet proceeds from this capital raise for the final redemption and complete\nelimination of the Company’s remaining Series D Preferred Stock held by\ninvestment funds managed by Morgan Stanley Tactical Value funds. This\npreferred stock arrangement was entered into over 5 years ago. With this\nanticipated action, NN will have eliminated all of its dilutive equity\nsecurities in the last 3 months. Additionally, the Company has now achieved a\ncashflow balance for servicing its debt on an on-going basis and lowered its\nleverage on a pro-forma basis.\n\nFund Existing Business Growth and Next-Gen Sales Expansion - NN will use the\nremainder of the net proceeds to fund the Company’s growth both current\ngrowth and future growth. NN is successfully growing and expanding its\nbusiness consistent with its 5 Pillar growth strategy. The growth investment\ntakes two forms – capital expenditures for new equipment for future sales\nand working capital for increasing current sales.\n\nQ3 Update – Q3 2026 was another high sales growth quarter for NN and sales\nwere at the highest levels in the last 8 years. New business awards are at the\nhighest levels ever. The company has secured approximately $130 million of\nannual new business over the last 12 months. Additionally, after successfully\nlaunching a brand-new product line this year in liquid cooling connectors, the\ncompany is readying its entry into another brand-new product area - cable\nassemblies - with a new plant startup in Mexico. This new product line will\nfurther enable the company to aggressively grow sales in data center, grid,\nmedical, defense & electronics, and high value vehicle.\n\nHarold Bevis, President and CEO of NN, commented, “NN has transformed its\nfinancial profile during 2026 with strong operating performance and several\ncapital markets actions. The Company is moving along its multi-year path. This\nPIPE transaction completes a significant step in our balance sheet evolution.\nWe are eliminating the Series D preferred stock with this action and setting\nthe Company up for its next phase of growth and common stock value increases.\nWe have a great set of investors now and together we are committed to\nbreakthrough, exceptional performance. Next up for NN is to refinance its\nhigh-cost Term Loan. We believe we can achieve a strong multi-million dollar\ncash interest reduction and further increase value for our common stock\nholders.”\n\n“NN’s key target markets of Data Center, Defense & Electronics, and\nMedical Products are strong and we are expanding our presence in them. Through\nthe end of September, we secured approximately $130 million of new business\nover the last 12 months. Our business development team is prospecting and\nwinning new business big-time. We have won over 200 programs this year and the\nyear is not over. Importantly, we are in full-scale launch mode to bring these\nnew wins online and into our sales streams to further boost our sales. Our\nbest days are before us.”\n\n“We would like to thank our banking team, legal advisers and investors for\ntheir active leadership completing this PIPE. Lake Street Capital Markets,\nLLC acted as the sole placement agent for the PIPE. Dentons US LLP served\nas sole legal counsel to NN for the PIPE. Faegre Drinker served as counsel to\nthe placement agent. Alpha IR served as investor relations and public\ncommunications lead for NN.”\n\nThe securities being issued and sold in the PIPE have not been registered\nunder the Securities Act of 1933, as amended (the “Securities Act”).\nAccordingly, these securities may not be offered or sold in the United\nStates, except pursuant to an effective registration statement or an\napplicable exemption from the registration requirements of the Securities Act.\nConcurrently with the execution of the securities purchase agreement, NN and\nthe investors named therein entered into a registration rights agreement\npursuant to which NN has agreed to file a registration statement with the U.S.\nSecurities and Exchange Commission (“SEC”) registering the resale of the\nshares of common stock.\n\nThis press release shall not constitute an offer to sell or the solicitation\nof an offer to buy these securities, nor shall there be any sale of these\nsecurities in any state or other jurisdiction in which such offer,\nsolicitation or sale would be unlawful prior to the registration or\nqualification under the securities laws of any such state or other\njurisdiction.\n\nAbout NN, Inc.\n\nNN, Inc. (NASDAQ: NNBR) is an entrepreneurial manufacturing company\nspecializing in manufacturing micron-toleranced precision metal componentry\nfor high-growth end markets, especially Data Center, Electric Grid, Medical,\nDefense, and High-Value Vehicle systems. Founded in 1980, NN serves over 700\ncustomers on 4 continents through its 2,550 person workforce operating out of\n27 global plants. This footprint enables rapid innovation and global scaled\nsolutions. For more information, visit nninc.com.\n\nForward Looking Statements\n\nThis press release may contain forward-looking statements regarding our\nbusiness, operations, and financial performance. Such statements are based on\ncurrent expectations and assumptions that are subject to a number of risks and\nuncertainties. Actual results could differ materially. Please refer to our\nmost recently filed Form 10-K and our Form 10-Q for the period following that\nForm 10-K, including the risk factors described therein. We undertake no\nobligation to update any forward-looking statement, except as required by law.\nGiven these risks and uncertainties, investors are cautioned not to place\nundue reliance on such forward-looking statements.\n\nInvestor Relations: \nJoe Caminiti\nNNBR@alpha-ir.com  \n312-445-2870 \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/bf2f92b9-9714-4fdc-a0c0-7f216f42e1bb)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX7zqCjb-20261002","title":"NN, Inc. Announces $50 Million Net Private Placement of Common Stock and Pre-Funded Warrants","author":"Globe Newswire","ticker":"NNBR","created":"2026-10-02T12:00:00.511Z","tickers":["NNBR"],"exchange":"NASDAQ","article_body":"CHARLOTTE, N.C., Oct. 02, 2026 (GLOBE NEWSWIRE) -- NN, Inc. (“NN” or the\n“Company”) (NASDAQ: NNBR), a global leader in precision manufacturing,\ntoday announced it has entered into a securities purchase agreement for a\nprivate investment in public equity financing (the “PIPE”) that is\nexpected to result in net proceeds of approximately $50 million after\ndeducting placement agent fees and offering expenses. The PIPE is expected to\nclose on or about October 5, 2026, subject to the satisfaction of customary\nclosing conditions.\n\nCapital Raise Overview\n\nPursuant to the terms of the securities purchase agreement, at the closing of\nthe PIPE, NN will issue an aggregate of 16.1 million shares of common stock\n(or prefunded warrants in lieu thereof) at a price of $3.30 per share (or\n$3.29 per pre-funded warrant). Each pre-funded warrant has an exercise price\nof $0.01 per share of common stock, will be immediately exercisable, subject\nto certain conditions set forth in each pre-funded warrant, and will not\nexpire.\n\nThere are 10 investors making this investment from a mix of both existing\nshareholders and new shareholders. The investment was significantly\nover-subscribed and allocations were made across the investor base. The\ncapital raise was enabled by the Company’s recent increase of its authorized\ncommon stock achieved via shareholder vote.\n\nUse of Proceeds and Update\n\nPreferred Stock Elimination and Deleverage - NN will use the majority of the\nnet proceeds from this capital raise for the final redemption and complete\nelimination of the Company’s remaining Series D Preferred Stock held by\ninvestment funds managed by Morgan Stanley Tactical Value funds. This\npreferred stock arrangement was entered into over 5 years ago. With this\nanticipated action, NN will have eliminated all of its dilutive equity\nsecurities in the last 3 months. Additionally, the Company has now achieved a\ncashflow balance for servicing its debt on an on-going basis and lowered its\nleverage on a pro-forma basis.\n\nFund Existing Business Growth and Next-Gen Sales Expansion - NN will use the\nremainder of the net proceeds to fund the Company’s growth both current\ngrowth and future growth. NN is successfully growing and expanding its\nbusiness consistent with its 5 Pillar growth strategy. The growth investment\ntakes two forms – capital expenditures for new equipment for future sales\nand working capital for increasing current sales.\n\nQ3 Update – Q3 2026 was another high sales growth quarter for NN and sales\nwere at the highest levels in the last 8 years. New business awards are at the\nhighest levels ever. The company has secured approximately $130 million of\nannual new business over the last 12 months. Additionally, after successfully\nlaunching a brand-new product line this year in liquid cooling connectors, the\ncompany is readying its entry into another brand-new product area - cable\nassemblies - with a new plant startup in Mexico. This new product line will\nfurther enable the company to aggressively grow sales in data center, grid,\nmedical, defense & electronics, and high value vehicle.\n\nHarold Bevis, President and CEO of NN, commented, “NN has transformed its\nfinancial profile during 2026 with strong operating performance and several\ncapital markets actions. The Company is moving along its multi-year path. This\nPIPE transaction completes a significant step in our balance sheet evolution.\nWe are eliminating the Series D preferred stock with this action and setting\nthe Company up for its next phase of growth and common stock value increases.\nWe have a great set of investors now and together we are committed to\nbreakthrough, exceptional performance. Next up for NN is to refinance its\nhigh-cost Term Loan. We believe we can achieve a strong multi-million dollar\ncash interest reduction and further increase value for our common stock\nholders.”\n\n“NN’s key target markets of Data Center, Defense & Electronics, and\nMedical Products are strong and we are expanding our presence in them. Through\nthe end of September, we secured approximately $130 million of new business\nover the last 12 months. Our business development team is prospecting and\nwinning new business big-time. We have won over 200 programs this year and the\nyear is not over. Importantly, we are in full-scale launch mode to bring these\nnew wins online and into our sales streams to further boost our sales. Our\nbest days are before us.”\n\n“We would like to thank our banking team, legal advisers and investors for\ntheir active leadership completing this PIPE. Lake Street Capital Markets,\nLLC acted as the sole placement agent for the PIPE. Dentons US LLP served\nas sole legal counsel to NN for the PIPE. Faegre Drinker served as counsel to\nthe placement agent. Alpha IR served as investor relations and public\ncommunications lead for NN.”\n\nThe securities being issued and sold in the PIPE have not been registered\nunder the Securities Act of 1933, as amended (the “Securities Act”).\nAccordingly, these securities may not be offered or sold in the United\nStates, except pursuant to an effective registration statement or an\napplicable exemption from the registration requirements of the Securities Act.\nConcurrently with the execution of the securities purchase agreement, NN and\nthe investors named therein entered into a registration rights agreement\npursuant to which NN has agreed to file a registration statement with the U.S.\nSecurities and Exchange Commission (“SEC”) registering the resale of the\nshares of common stock.\n\nThis press release shall not constitute an offer to sell or the solicitation\nof an offer to buy these securities, nor shall there be any sale of these\nsecurities in any state or other jurisdiction in which such offer,\nsolicitation or sale would be unlawful prior to the registration or\nqualification under the securities laws of any such state or other\njurisdiction.\n\nAbout NN, Inc.\n\nNN, Inc. (NASDAQ: NNBR) is an entrepreneurial manufacturing company\nspecializing in manufacturing micron-toleranced precision metal componentry\nfor high-growth end markets, especially Data Center, Electric Grid, Medical,\nDefense, and High-Value Vehicle systems. Founded in 1980, NN serves over 700\ncustomers on 4 continents through its 2,550 person workforce operating out of\n27 global plants. This footprint enables rapid innovation and global scaled\nsolutions. For more information, visit nninc.com.\n\nForward Looking Statements\n\nThis press release may contain forward-looking statements regarding our\nbusiness, operations, and financial performance. Such statements are based on\ncurrent expectations and assumptions that are subject to a number of risks and\nuncertainties. Actual results could differ materially. Please refer to our\nmost recently filed Form 10-K and our Form 10-Q for the period following that\nForm 10-K, including the risk factors described therein. We undertake no\nobligation to update any forward-looking statement, except as required by law.\nGiven these risks and uncertainties, investors are cautioned not to place\nundue reliance on such forward-looking statements.\n\nInvestor Relations: \nJoe Caminiti\nNNBR@alpha-ir.com  \n312-445-2870 \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/bf2f92b9-9714-4fdc-a0c0-7f216f42e1bb)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-02T12:00:01.085046057Z","server_sent_at_ms":1790942401085},"received_at":"2026-10-02T12:00:01.135Z","source_url":null},"analysis":{"id":"147937","press_release_id":"159319","analysis_json":{"industry":{"label":"Machinery","sector":"Industrials"},"redFlags":["~16.1M new shares issued in PIPE represents material dilution for a small-cap","unregistered securities with mandatory resale registration could create overhang","company still carries a high-cost Term Loan it plans to refinance"],"eventType":"offering","narrative":"NN, Inc. announced a $50 million net PIPE financing, issuing 16.1 million shares (or pre-funded warrants) at $3.30 per share to 10 investors, with the deal significantly over-subscribed and expected to close around October 5, 2026.\n\nThe majority of proceeds will redeem and eliminate the remaining Series D Preferred Stock held by Morgan Stanley Tactical Value funds, completing the elimination of all dilutive equity securities in the past three months and lowering pro-forma leverage.\n\nManagement also updated on Q3: sales at the highest levels in 8 years, record new business awards, approximately $130 million of annual new business secured over the last 12 months, and a new cable assemblies product line launching via a new Mexico plant.\n\nThe tradeoff is meaningful share dilution at $3.30 for a small-cap; next on management's agenda is refinancing the high-cost Term Loan to cut cash interest.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Oversubscribed $50M PIPE eliminates Series D preferred and de-risks the balance sheet -- weigh dilution against deleveraging and record new business wins."},"keyFigures":{"dealValueUsd":50000000,"offeringPrice":3.3,"sharesOffered":16100000,"customDimensions":{"investor_count":10,"oversubscribed":true,"pre_funded_warrant_price":"$3.29","new_business_wins_annualized":"$130 million","pre_funded_warrant_exercise_price":"$0.01"}},"quotedText":"This PIPE transaction completes a significant step in our balance sheet evolution. 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.","namedEntities":{"people":[{"name":"Harold Bevis","role":"President and CEO"},{"name":"Joe Caminiti","role":"Investor Relations contact"}],"products":["liquid cooling connectors","cable assemblies"],"companies":[{"name":"NN, Inc.","ticker":"NNBR","relationship":"filer"},{"name":"Morgan Stanley Tactical Value funds","relationship":"preferred stockholder"},{"name":"Lake Street Capital Markets, LLC","relationship":"placement agent"},{"name":"Dentons US LLP","relationship":"legal counsel to NN"},{"name":"Faegre Drinker","relationship":"counsel to placement agent"},{"name":"Alpha IR","relationship":"investor relations"}],"dollarAmounts":[{"amount":"$50 million","context":"expected net proceeds of PIPE private placement"},{"amount":"$3.30","context":"per-share PIPE purchase price"},{"amount":"$3.29","context":"per pre-funded warrant price"},{"amount":"$130 million","context":"annual new business secured over last 12 months"}]},"materialImpact":{"score":4,"reasoning":"$50M PIPE issuing ~16.1M shares is significant dilution for a small-cap, but proceeds eliminate the Series D preferred stock and fund growth, and the release includes a strong Q3 update (highest sales in 8 years, ~$130M in new business wins)."},"tickerRelevance":{"others":[],"primary":"NNBR"},"globalImportance":35,"audienceRelevance":30,"eventTypeSecondary":["dilution","operations_update"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"PIPE financing with preferred elimination","dilutionMagnitude":"significant for small-cap","retailFavoriteBoost":"moderate","oversubscribedDemand":"positive signal"}},"event_type":"offering","event_type_secondary":["dilution","operations_update"],"sentiment":"mixed","material_impact_score":4,"narrative":"NN, Inc. announced a $50 million net PIPE financing, issuing 16.1 million shares (or pre-funded warrants) at $3.30 per share to 10 investors, with the deal significantly over-subscribed and expected to close around October 5, 2026.\n\nThe majority of proceeds will redeem and eliminate the remaining Series D Preferred Stock held by Morgan Stanley Tactical Value funds, completing the elimination of all dilutive equity securities in the past three months and lowering pro-forma leverage.\n\nManagement also updated on Q3: sales at the highest levels in 8 years, record new business awards, approximately $130 million of annual new business secured over the last 12 months, and a new cable assemblies product line launching via a new Mexico plant.\n\nThe tradeoff is meaningful share dilution at $3.30 for a small-cap; next on management's agenda is refinancing the high-cost Term Loan to cut cash interest.","key_figures":{"dealValueUsd":50000000,"offeringPrice":3.3,"sharesOffered":16100000,"customDimensions":{"investor_count":10,"oversubscribed":true,"pre_funded_warrant_price":"$3.29","new_business_wins_annualized":"$130 million","pre_funded_warrant_exercise_price":"$0.01"}},"named_entities":{"people":[{"name":"Harold Bevis","role":"President and CEO"},{"name":"Joe Caminiti","role":"Investor Relations contact"}],"products":["liquid cooling connectors","cable assemblies"],"companies":[{"name":"NN, Inc.","ticker":"NNBR","relationship":"filer"},{"name":"Morgan Stanley Tactical Value funds","relationship":"preferred stockholder"},{"name":"Lake Street Capital Markets, LLC","relationship":"placement agent"},{"name":"Dentons US LLP","relationship":"legal counsel to NN"},{"name":"Faegre Drinker","relationship":"counsel to placement agent"},{"name":"Alpha IR","relationship":"investor relations"}],"dollarAmounts":[{"amount":"$50 million","context":"expected net proceeds of PIPE private placement"},{"amount":"$3.30","context":"per-share PIPE purchase price"},{"amount":"$3.29","context":"per pre-funded warrant price"},{"amount":"$130 million","context":"annual new business secured over last 12 months"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-02T12:00:13.980Z","global_importance":35,"audience_relevance":30,"importance_components":{"tickerTier":"small-cap","eventGravity":"PIPE financing with preferred elimination","dilutionMagnitude":"significant for small-cap","retailFavoriteBoost":"moderate","oversubscribedDemand":"positive signal"}},"durationMs":8211,"modelName":"glm-5.3-flashx"}}