NN, Inc. Eliminates all of its Preferred Stock
A $5.0 million incentive reduced the payment needed to retire the preferred security and eliminate its holder’s rights.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
NN (NASDAQ: NNBR) redeemed all remaining Series D Perpetual Preferred Stock for approximately $30.7 million, eliminating the security from its balance sheet.
The redemption covered 18,400 shares and ended all associated holder rights. A $5.0 million incentive under a prior agreement with the sole holder reduced the security’s $35.7 million value to a $30.7 million redemption payment. Funding came from the $53.1 million private investment in public equity (PIPE) placement completed October 5, 2026.
NN plans to use the resulting capital flexibility to accelerate its business plans and intends to refinance its Term Loan at the right time. Updated guidance is scheduled for the October 29, 2026 earnings call.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point$53.1 million PIPE placement completed October 5, 2026, supplied funding for the redemption. 16% of market cap
- Moderate pointAll 18,400 remaining preferred shares redeemed, eliminating the security and associated holder rights.
- Minor point$5.0 million incentive reduced the $35.7 million security value to a $30.7 million redemption payment.
- Minor point. Forward-looking: it has not happened yet and may not happen.Capital flexibility is intended to accelerate NN’s business plans.
- Minor point. Forward-looking: it has not happened yet and may not happen.Term Loan refinancing is intended at the right time to further improve NN’s capital structure.
Negative
- Moderate pointApproximately $30.7 million of PIPE proceeds spent to redeem the preferred stock. 9.2% of market cap
Key Figures
- Preferred shares redeemed
- 18,400 shares
- Remaining Series D Perpetual Preferred Stock
- Redemption amount
- $30.7 million
- Series D Preferred Stock
- Security value
- $35.7 million
- Value of the security redeemed for $30.7 million
- Incentive
- $5.0 million
- Provided under a prior agreement with the security holder
- PIPE proceeds
- $53.1 million
- Private placement completed October 5, 2026; funded the redemption
Historical Context
-
Most proceeds were allocated to redeem remaining Series D preferred stock; closing expected October 5.
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Remaining preferred refinanced at 10% for one year, with a potential $5 million redemption discount.
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
par value financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
CHARLOTTE, N.C., Oct. 08, 2026 (GLOBE NEWSWIRE) -- NN, Inc. (“NN” or the “Company”) (NASDAQ: NNBR), a global leader in precision manufacturing, today announced that it had completed an important balance sheet transaction.
The Company has redeemed, paid off and eliminated all of its remaining 18,400 outstanding shares of its Series D Perpetual Preferred Stock, par value
The redemption was funded with proceeds raised from the Company's
This security has now been eliminated from NN’s balance sheet. No shares of the Preferred Stock remain outstanding. All of the holder’s rights associated with the Preferred Stock have also been eliminated. This completes an important stepping stone in the transformation of NN, its capital structure, and its business plan.
Harold Bevis, President and CEO of NN, commented, “NN has significantly deleveraged during 2026. We will use this newly created capital flexibility to accelerate our business plans. We also intend to refinance our Term Loan at the right time and further improve our capital structure. The Company will provide updated guidance during our next earnings call on October 29th, 2026."
About NN, Inc.
NN, Inc. (NASDAQ: NNBR) is an entrepreneurial manufacturing company specializing in manufacturing micron-tolerance precision metal componentry for high-growth end markets, especially Data Center, Electric Grid, Medical, Defense, and High-Value Vehicle systems. Founded in 1980, NN serves over 700 customers on 4 continents through its 2,700 person workforce operating out of 27 global plants. This footprint enables rapid innovation and globally scaled solutions. For more information, visit nninc.com.
Forward Looking Statements
This press release may contain forward-looking statements regarding our business, operations, and financial performance. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our most recently filed Form 10-K and our Form 10-Q for the period following that Form 10-K, including the risk factors described therein. We undertake no obligation to update any forward-looking statement, except as required by law. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements.
Investor Relations:
Joe Caminiti
NNBR@alpha-ir.com
312-445-2870
FAQ
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