NN, Inc. Announces $75.0 Million Private Placement
NN (NASDAQ: NNBR) entered a securities purchase agreement for a $75.0 million PIPE private placement, expected to close on or about July 2, 2026, subject to customary conditions.
Rhea-AI Summary
NN (NASDAQ: NNBR) entered a securities purchase agreement for a $75.0 million PIPE private placement, expected to close on or about July 2, 2026, subject to customary conditions.
NN will issue 24,509,804 common shares at $3.06 per share and plans to use net proceeds for working capital and general corporate purposes, including potential balance sheet optimization. The securities are unregistered under the Securities Act, and NN agreed to file an SEC registration statement to register resale of the shares.
Positive
- $75.0 million gross proceeds expected from PIPE financing
- 24,509,804 new common shares priced at $3.06 provide fresh equity capital
- Stated intent to use proceeds for working capital and general corporate purposes
- Management highlights flexibility to pursue balance sheet optimization actions
Negative
- Issuance of 24,509,804 new shares implies equity dilution for existing shareholders
- Securities initially unregistered; investor liquidity depends on future SEC resale registration
Details
News Market Reaction – NNBR
In the Jul 1 session, NNBR gained 11.14%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- PIPE gross proceeds
- $75.0 million
- Expected gross proceeds before fees and expenses from private placement
- Shares issued
- 24,509,804 shares
- Common stock to be issued in the PIPE financing
- Offering price
- $3.06 per share
- Purchase price per common share in the PIPE
- Expected closing date
- July 2, 2026
- Target closing date for the PIPE, subject to conditions
- Securities Act year
- 1933
- Year of the Securities Act referenced for registration requirements
Historical Context
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Multi‑year NVIDIA data center liquid cooling awards and capacity expansion.
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Appointment of Robert Esch as President & CTO, Machined Products.
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Q1 2026 growth, improved EBITDA and raised full‑year guidance.
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Notification of >$10M CARES Act IRS refund and planned debt offset.
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Scheduling of Q1 2026 earnings release and conference call details.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
private investment in public equity financial
pipe financial
registration statement regulatory
registration rights agreement regulatory
securities act regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
CHARLOTTE, N.C., July 01, 2026 (GLOBE NEWSWIRE) -- NN, Inc. (“NN” or the “Company”) (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies with six sigma quality, today announced that it has entered into a securities purchase agreement for a private investment in public equity financing (the “PIPE”) that is expected to result in gross proceeds of
Pursuant to the terms of the securities purchase agreement, at the closing of the PIPE, NN will issue an aggregate of 24,509,804 shares of common stock at a price of
The Company intends to use the net proceeds from the PIPE for working capital and general corporate purposes, which may include actions designed to optimize NN’s balance sheet.
Harold Bevis, President and CEO of NN, stated, “We are excited to bring new investors into the stock who are committed to our business plan. The capital from this offering also provides us flexibility to take actions to strengthen our balance sheet, which we believe will provide long-term benefits to our investors.”
Craig-Hallum Capital Group LLC acted as the sole placement agent for the PIPE. Cooley LLP served as counsel to NN for the PIPE and Faegre Drinker Biddle & Reath served as counsel to the placement agent.
The securities being issued and sold in the PIPE have not been registered under the Securities Act of 1933, as amended (the “Securities Act”). Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. Concurrently with the execution of the securities purchase agreement, NN and the investors named therein entered into a registration rights agreement pursuant to which NN has agreed to file a registration statement with the U.S. Securities and Exchange Commission (“SEC”) registering the resale of the shares of common stock.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About NN
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and China. For more information about the Company and its products, please visit www.nninc.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements regarding the timing and completion of the PIPE, the use of the net proceeds from the PIPE, including any potential actions designed to optimize the Company’s balance sheet and any potential long-term benefits to our investors of such actions, and other statements that are not historical facts. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project,” “achieve,” “growth,” “enable,” “improve,” or the negative of these terms, and similar words, phrases or expressions that convey uncertainty of future events or outcomes. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such statements. Such factors include, among others, matters related to the completion of the PIPE and related transactions, including the need to satisfy the closing conditions therefor. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the SEC. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.
Investor Relations:
Joseph Caminiti
NNBR@alpha-ir.com
312-445-2870
