NN, Inc. (NASDAQ: NNBR) has redeemed and eliminated all 18,400 outstanding shares of its Series D Perpetual Preferred Stock, paying approximately $30.7 million, according to a company statement.

The redemption was funded using proceeds from a $53.1 million private investment in public equity (PIPE) placement completed on Oct. 5, 2026. The company also received a $5.0 million incentive from the sole holder of the security under a prior agreement, reducing the redemption cost from the security's $35.7 million value to $30.7 million.

No shares of the preferred stock remain outstanding, and all associated holder rights have been eliminated from NN's balance sheet.

Harold Bevis, President and CEO of NN, said, "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."

NN is a precision metal components manufacturer serving customers across data center, electric grid, medical, defense, and vehicle markets, operating 27 plants with approximately 2,700 employees.