NN raises $50M PIPE at $3.30/share to eliminate Series D preferred stock; Q3 sales highest in 8 years

NN INC

NN sold 11,275,605 shares at $3.30 plus pre-funded warrants for 4,824,395 shares at $3.29 in a PIPE with 10 investors; ~$50M net proceeds; closed Oct. 5, 2026.
Majority of net proceeds fund final redemption and full elimination of remaining Series D Preferred Stock held by Morgan Stanley Tactical Value funds; remainder funds capex and working capital.
Q3 2026 sales were the highest in 8 years; NN secured ~$130M of annual new business over the last 12 months and won over 200 programs this year.
Post-issuance shares outstanding were 93,744,210; Lake Street Capital Markets was sole placement agent for a 6.0% fee; resale registration due within 45 days.
CEO Harold Bevis said the next step is refinancing the high-cost Term Loan, targeting a multi-million dollar cash interest reduction.

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