NN, Inc. (NNBR) removes equity condition and draws $10M delayed term loan
Rhea-AI Filing Summary
NN, Inc. entered into Amendment No. 1 to its Term Loan Credit Agreement on January 29, 2026. The original facility included a $118.0 million term loan funded in April 2025 and $10.0 million of delayed draw term loan commitments.
The amendment removes the requirement for a DDTL Equity Raise as a condition to accessing the delayed draw term loans. At the same time, NN, Inc. borrowed the full $10.0 million of delayed draw term loans, increasing its term loan borrowings under this credit agreement.
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Insights
NN, Inc. amends its term loan to access an additional $10 million without an equity raise condition.
NN, Inc. previously had a Term Loan Credit Agreement with a
The amendment removes the DDTL Equity Raise as a condition for using the delayed draw term loans, and the company simultaneously borrowed the entire
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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| ITEM 1.01 | ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. |
On January 29, 2026, NN, Inc., a Delaware corporation (the “Company”), entered into Amendment No. 1 to Term Loan Credit Agreement (the “Amendment”), which amended the Term Loan Credit Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Term Loan Credit Agreement”), dated as of April 16, 2025, by and among the Company, the lenders from time to time party thereto (collectively, the “Lenders”) and Alter Domus (US) LLC, as administrative agent for the Lenders The Term Loan Credit Agreement provides for (i) a $118.0 million term loan that was funded in full in April 2025 and (ii) $10.0 million of delayed draw term loan commitments (the “Delayed Draw Term Loans”). The ability of the Company to draw on the Delayed Draw Term Loans pursuant to the Term Loan Credit Agreement is subject to the Company satisfying certain conditions, including the DDTL Equity Raise (as defined in the Term Loan Credit Agreement). The Amendment removes the DDTL Equity Raise as a condition to the availability of the Delayed Draw Term Loans. In connection with entering into the Amendment, the Company borrowed $10.0 million of Delayed Draw Term Loans.
The foregoing description of the Term Loan Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Term Loan Credit Agreement, which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on April 17, 2025, and is incorporated herein by reference. The description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
| ITEM 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth above under Item 1.01 of this Current Report on Form 10-K is incorporated herein by reference.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Amendment No. 1 to Term Loan Credit Agreement, dated January 29, 2026, among NN, Inc. as the Borrower and the lenders party thereto from time to time, and Alter Domus (US) LLC, as administrative agent for the lenders | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | January 30, 2026 |
| NN, INC. | ||
| By: | /s/ Christopher H. Bohnert | |
| Name: | Christopher H. Bohnert | |
| Title: | Senior Vice President and Chief Financial Officer | |
FAQ
What change did NNBR make to its term loan agreement on January 29, 2026?
How much additional debt did NNBR borrow through the delayed draw term loans?
What are the key components of NNBR’s Term Loan Credit Agreement?
What was the DDTL Equity Raise condition removed for NNBR?
Who is the administrative agent for NNBR’s term loan facility?
Where can investors find the full text of NNBR’s term loan amendment?
