CHARLOTTE, N.C. – NN, Inc. () announced today that it has entered into a securities purchase agreement for a private investment in public equity financing expected to generate gross proceeds of $75 million before fees and expenses.
The transaction is expected to close on or about Thursday, subject to customary closing conditions, according to a press release statement. The company will issue 24,509,804 shares of common stock at $3.06 per share. The offering price represents a discount to the stock’s current trading price of $3.59, though InvestingPro analysis suggests the stock may be overvalued based on its Fair Value assessment. The timing of this capital raise appears strategic given the company’s debt burden of $218.7 million against a market cap of just $189.46 million.
NN, Inc. stated 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, 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.” According to InvestingPro Tips, the company operates with a significant debt burden, making balance sheet optimization a critical priority. For deeper insights into NNBR’s financial health and comprehensive analysis, investors can access the full Pro Research Report, available for this and 1,400+ other US equities.
Craig-Hallum Capital Group LLC acted as the sole placement agent for the transaction. Cooley LLP served as counsel to NN, Inc., while Faegre Drinker Biddle & Reath served as counsel to the placement agent.
The securities being issued have not been registered under the Securities Act of 1933. The company and investors entered into a registration rights agreement requiring NN, Inc. to file a registration statement with the U.S. Securities and Exchange Commission for the resale of the common stock shares.
NN, Inc. is a Charlotte, North Carolina-based industrial company that manufactures high-precision components and assemblies. The company operates facilities in North America, Europe, South America, and China.
In other recent news, NN Inc. reported a strong performance for the first quarter of 2026, with earnings per share of $0.02, surpassing the anticipated loss of $0.06. The company’s revenue also exceeded expectations, reaching $118.5 million compared to the projected $106.78 million. Additionally, NN Inc. announced new multi-year awards for liquid cooling products used in NVIDIA AI data center racks, which will expand its product portfolio significantly. The company plans to deploy 52 dedicated machines for this venture, with all production capacity pre-sold. Furthermore, NN Inc. is expanding its AI data center cooling production capacity by adding 47 new CNC machine centers, with a significant increase at its Wuxi, China plant.
In leadership developments, Robert Esch was appointed as the President and Chief Technical Officer of the Machined Products division, effective June 8, 2026. Esch will oversee operations across North America, South America, and Europe, while maintaining technical oversight globally. At the 2026 annual meeting of stockholders, shareholders approved the election of eight directors to serve a one-year term. The directors elected include Raynard D. Benvenuti, Harold C. Bevis, and Christina E. Carroll, among others, each receiving a majority of votes cast in favor.
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