NN, Inc. operates as a diversified industrial enterprise specializing in the engineering, production, and distribution of high-precision components and intricate assemblies. Its operations are structured into two distinct segments: Mobile Solutions and Power Solutions. The Mobile Solutions segment focuses on crafting and supplying essential components for both general industrial applications and the automotive sector. These components find utility in a range of critical systems, including power steering, braking, transmissions, gasoline and diesel fuel injection, diesel emissions treatment, and heating, ventilation, and air conditioning (HVAC) systems. Conversely, the Power Solutions segment designs, produces, and markets a diverse array of high-precision metal and plastic components, sub-assemblies, and complete devices. These are integral to applications such as power regulation, flight management, and various military equipment. Key offerings within this segment encompass electrical contacts, connectors, contact assemblies, and precision stampings, serving a broad spectrum of end markets including electrical, general industrial, automotive, aerospace, defense, and medical. Additionally, it fabricates a variety of specialized tools and instruments specifically for the orthopaedics and broader medical/surgical fields. Established in 1980, NN, Inc. maintains its corporate headquarters in Charlotte, North Carolina.
NN, Inc. Announces $50 Million Net Private Placement of Common Stock and Pre-Funded Warrants
NN, Inc. announced a $50 million net PIPE financing, issuing 16.1 million shares (or pre-funded warrants) at $3.30 per share to 10 investors, with the deal significantly over-subscribed and expected to close around October 5, 2026.
The majority of proceeds will redeem and eliminate the remaining Series D Preferred Stock held by Morgan Stanley Tactical Value funds, completing the elimination of all dilutive equity securities in the past three months and lowering pro-forma leverage.
Management also updated on Q3: sales at the highest levels in 8 years, record new business awards, approximately $130 million of annual new business secured over the last 12 months, and a new cable assemblies product line launching via a new Mexico plant.
The tradeoff is meaningful share dilution at $3.30 for a small-cap; next on management's agenda is refinancing the high-cost Term Loan to cut cash interest.