NN, Inc. Eliminates all of its Preferred Stock

(NASDAQ: NNBR) NN, Inc. announced the completion of a significant balance sheet transaction involving the redemption, payoff, and elimination of all 18,400 outstanding shares of its Series D Perpetual Preferred Stock, each with a par value of $0.01 per share, for approximately $30.7 million. The redemption was funded using proceeds from the company's $53.1 million private investment in public equity (PIPE) private placement, which was completed on October 5, 2026. The timing of the redemption allowed NN, Inc. to benefit from a $5.0 million incentive under a prior agreement with the sole holder of the security. As a result, the $35.7 million value of the security was redeemed for $30.7 million. Following this transaction, no shares of the Preferred Stock remain outstanding, and all associated rights of the holder have been eliminated. This action removes the security from NN’s balance sheet and is described as an important step in the transformation of the company’s capital structure and business plan. Harold Bevis, President and CEO of NN, Inc., stated that the company has significantly deleveraged during 2026 and will use the increased capital flexibility to accelerate its business plans. He also indicated that NN, Inc. intends to refinance its Term Loan at an appropriate time to further improve its capital structure. The company plans to provide updated guidance during its next earnings call on October 29, 2026. NN, Inc. specializes in manufacturing micron-tolerance precision metal componentry for high-growth end markets, including Data Center, Electric Grid, Medical, Defense, and High-Value Vehicle systems. The company serves over 700 customers across 4 continents and operates with a workforce of 2,700 employees in 27 global plants.

NN, Inc. Announces $75.0 Million Private Placement

(NASDAQ: NNBR) NN, Inc. 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 $75.0 million before deducting placement agent fees and offering expenses. The PIPE is expected to close on or about July 2, 2026, subject to the satisfaction of customary closing conditions. At the closing of the PIPE, NN will issue an aggregate of 24,509,804 shares of common stock at a price of $3.06 per share. 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. Craig-Hallum Capital Group LLC acted as the sole placement agent for the PIPE, with Cooley LLP serving as counsel to NN and Faegre Drinker Biddle & Reath as counsel to the placement agent. NN and the investors 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 registering the resale of the shares of common stock. NN, Inc. is headquartered in Charlotte, North Carolina, and has facilities in North America, Europe, South America, and China.

NN, Inc. Announces Significant New Awards for its NVIDIA Data Center Liquid Cooled Products Business

(NASDAQ: NNBR) NN, Inc. announced an update on its Data Center business, highlighting that its combined Data Center and Electric Grid business is already its 2nd largest business, with a goal to become the largest by sales. The company has secured a significant amount of additional 2026 immediate-supply awards for liquid cooling products that go into NVIDIA AI data center racks, and has pre-sold 100% of the production capacity for these products. NN is on its way to having 52 dedicated machines for liquid cooled products, with 50 as production lines and 2 for making samples, and is procuring an additional 30 new machine centers on top of the 17 new CNC machine centers previously announced. The Wuxi, China plant will have approximately 250 CNC machine centers after the addition of 47 new machines, with the 47th new machine to be installed in November 2026. The company announced that these new awards fit within its previously issued new wins guidance for achieving $80 to $90 million of accretive new business during 2026. NN plans to adjust its 2026 and 2027 sales and EBITDA guidance, if needed, during its next business and guidance update when it releases Q2 earnings in early August. The company is supplying parts into NVIDIA’s Asia supply chain in China, Taiwan, and Vietnam.