InvestmentJul 1, 2026, 04:17 PM
NN Inc. Raises $75M via Private Placement of Common Stock
AI Summary
NN Inc. has entered into a Securities Purchase Agreement with institutional investors for a private placement of common stock. The company will sell 24,509,804 shares at $3.06 per share, expecting to raise $75.0 million in gross proceeds. The closing is anticipated around July 2, 2026, and the company has also agreed to file a registration statement for the resale of these shares within 45 days.
Key Highlights
- NN Inc. entered a Securities Purchase Agreement for a private placement.
- The company will sell 24,509,804 shares of common stock.
- The purchase price per share is $3.06.
- Total gross proceeds are expected to be $75.0 million.
- The closing of the private placement is anticipated around July 2, 2026.
- Craig-Hallum Capital Group LLC will receive a fee of approximately 6.0% of gross proceeds.
- NN Inc. agreed to file a registration statement for resale within 45 days.
Price Impact
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