NN redeems remaining Series D preferred for $30.7M, eliminating preferred stock from balance sheet

NN INC

Redeemed all 18,400 remaining Series D Perpetual Preferred shares on Oct 7, 2026 for ~$30.7M cash, paying off a $35.7M security value with a $5.0M holder incentive.
Redemption was funded with proceeds from a $53.1M PIPE private placement completed October 5, 2026.
Holder NHTV Nevada Holdings LP lost all rights tied to the preferred, including Board Observer Agreement rights dated March 22, 2021; no Series D shares remain outstanding.
CEO Harold Bevis said NN 'has significantly deleveraged during 2026,' intends to refinance its Term Loan, and will give updated guidance on the October 29, 2026 earnings call.

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