---
schema_version: "secwatch.filing_event.v1"
accession: "0000918541-24-000012"
form_type: "8-K"
ticker: "NNBR"
cik: "0000918541"
company_name: "NN INC"
filed_at: "2024-03-08T23:59:59+00:00"
generated_at: "2026-06-05T01:01:56.815617+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NN enters $16.8M sale-leaseback of three facilities, repays term loan

## Summary
- Sale-leaseback of three facilities for aggregate $16.8M; expected to close March 15, 2024.
- Net proceeds will repay outstanding term loan balance, lowering ongoing cash interest costs.
- Company also reduced corporate HQ footprint by ~2/3 via separate sublease to lower operating costs.
- No impact to EBITDA, employees, or customers; NN will continue operations at the facilities.
- CFO Mike Felcher says transaction is part of a multi-step 2024 balance sheet optimization plan.

## SEC filing metadata
- accession: 0000918541-24-000012
- form_type: 8-K
- ticker: NNBR
- cik: 0000918541
- company_name: NN INC
- filed_at: 2024-03-08T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/918541/000091854124000012/0000918541-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/918541/000091854124000012/nnbr-20240305.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000918541-24-000012
- JSON: https://secwatch.observer/filing/0000918541-24-000012.json
- Plain text: https://secwatch.observer/filing/0000918541-24-000012.txt

## Key facts
- Material Agreements
  NN INC entered into Purchase and Sale and Escrow Agreement with Tenet Equity Funding SPE III, LLC valued at $16.8 million (effective 2024-03-05).
  - Action: entry
  - Agreement: lease
  - Counterparty: Tenet Equity Funding SPE III, LLC
  - Value: $16.8 million
  - Effective: 2024-03-05
  source text: On March 5, 2024, NN, Inc., a Delaware corporation (the "Company"), entered into that certain Purchase and Sale and Escrow Agreement (the “Agreement”) with Tenet Equity Funding SPE III, LLC, a Delaware limited liability company (the “Buyer”), to sell and leaseback (the “Sale Leaseback Transactions”) those certain facilities identified in the Agreement (the “Properties”), which are currently owned by subsidiaries of the Company. The aggregate purchase price for the Properties is $16.8 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/918541/000091854124000012/0000918541-24-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.