NN, Inc. has closed a private placement transaction with institutional investors, raising approximately $53 million in gross proceeds. The company issued common stock and pre-funded warrants, resulting in approximately $50 million in net proceeds after placement agent fees and other expenses.
Key Details
- Transaction: The private placement involved the sale of 11,275,605 shares of common stock at $3.30 per share and pre-funded warrants to purchase 4,824,395 shares of common stock at $3.29 per warrant.
- Proceeds: The transaction generated approximately $53 million in gross proceeds and approximately $50 million in net proceeds for the company.
- Warrant Terms: Each pre-funded warrant has a nominal exercise price of $0.01 per share, is immediately exercisable, and does not expire.
- Timeline & Agreements: The Securities Purchase Agreement was entered into on October 1, 2026, and the private placement closed on October 5, 2026. The company also entered into a Registration Rights Agreement, obligating it to file a resale registration statement for the securities within 45 days.