NN, Inc. raises $75M through private placement of common stock

NN, Inc. (NASDAQ: NNBR), a Charlotte, North Carolina-based industrial manufacturer, announced it has entered into a securities purchase agreement for a private investment in public equity financing expected to generate $75.0 million in gross proceeds before placement agent fees and expenses.

Under the terms of the agreement, NN will issue 24,509,804 shares of common stock at $3.06 per share. The transaction is expected to close on or about July 2, 2026, subject to customary closing conditions.

The company said it intends to use the net proceeds for working capital and general corporate purposes, which may include actions to optimize its balance sheet.

Harold Bevis, President and CEO of NN, said, "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 transaction. Cooley LLP served as counsel to NN, and Faegre Drinker Biddle & Reath served as counsel to the placement agent.

The shares issued in the transaction have not been registered under the Securities Act of 1933. NN said it has agreed to file a registration statement with the U.S. Securities and Exchange Commission to register the resale of the shares.

You May Also Be Interested In

• B&R Technology Merger Corp. raises $325M in Nasdaq IPO
• CVB Financial names Michael Maddox to its board of directors
• AtlasClear signs LOI for digital asset firm, advances Dawson James deal