NN announced a private placement of 24,509,804 common shares at $3.06 per share for gross proceeds of about $75.0 million, pursuant to a Securities Purchase Agreement signed June 30, 2026. Closing is expected on or about July 2, 2026, subject to customary conditions. Craig-Hallum Capital Group is acting as placement agent with a fee of approximately 6.0% of gross proceeds plus expenses. NN also entered a Registration Rights Agreement requiring the filing of a resale registration statement within 45 days and effectiveness within 45 to 90 days, with liquidated damages payable if deadlines are missed or availability is suspended.
Agreement 1: NN to Raise $75 Million via Private Placement at $3.06 Per Share; Registration Rights Granted
- Agreement type: Securities Purchase Agreement for private placement of common stock
- Counterparty: Institutional investors
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Until Closing (expected Jul 02 2026)
- Reason: Bolster liquidity and fund corporate purposes
Agreement 2: NN Enters Registration Rights Agreement to Register Resale of Private Placement Shares
- Agreement type: Registration Rights Agreement for resale registration
- Counterparty: Institutional investors
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Until registered shares are sold
- Reason: Provide investors liquidity via registered resale
Original SEC Filing:
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