NN, Inc. (NASDAQ: NNBR) has closed a private placement of common stock and pre-funded warrants, raising approximately $50 million in net proceeds. The transaction, executed on October 5, 2026, involved the sale of 11,275,605 shares of common stock and pre-funded warrants to purchase an additional 4,824,395 shares of common stock to certain institutional investors.
The shares were sold at a price of $3.30 per share, with the pre-funded warrants priced at $3.29 each. Lake Street Capital Markets, LLC served as the sole placement agent for the deal, receiving a fee equal to 6.0% of the aggregate gross proceeds.
The company stated that the capital will be used primarily to redeem and eliminate all remaining Series D Preferred Stock held by investment funds managed by Morgan Stanley Tactical Value funds. This action is expected to complete the elimination of dilutive equity securities over the last three months. The remaining proceeds will be used to support business growth, including capital expenditures for new equipment and working capital for increasing current sales.
Following the issuance of the shares, NN, Inc. had 93,744,210 shares of common stock outstanding. Concurrently, the company entered into a registration rights agreement requiring the filing of a registration statement covering the resale of the securities within 45 days.
