Entry into a Material Definitive Agreement · Unregistered Sales of Equity Securities
Item 1.01 Entry into a Material Definitive Agreement. On June 30, 2026, NN, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (the “Purchasers”), pursuant to which the Company agreed to sell and issue to the Purchasers 24,509,804 shares (the “Shares”) of the Company’s common stock (“Common Stock”) in a private placemen…
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Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On June 30, 2026, NN, Inc. (the “Company”)
entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (the “Purchasers”),
pursuant to which the Company agreed to sell and issue to the Purchasers 24,509,804 shares (the “Shares”) of the Company’s
common stock (“Common Stock”) in a private placement transaction (the “Private Placement”). The purchase price
per share of Common Stock is $3.06 per share (the “Purchase Price”). The closing of the Private Placement is expected to occur
on or about July 2, 2026 (the “Closing”), subject to the satisfaction of customary closing conditions. The total gross proceeds
to the Company at the Closing are expected to be $75.0 million.
The Purchase Agreement contains customary representations,
warranties and agreements by the Company and the Purchasers, customary conditions to closing, and indemnification obligations of the Company
and the Purchasers.
Craig-Hallum Capital Group LLC is acting as placement
agent (the “Placement Agent”) for the Private Placement. The Placement Agent is entitled to receive a fee equal to approximately
6.0% of the aggregate gross proceeds from the securities sold at the Closing, plus the reimbursement of certain expenses.
In connection with the Private Placement, on June
30, 2026, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with the Purchasers.
Under the Registration Rights Agreement, the Company has agreed to file a registration statement covering the resale by the Purchasers
of the Shares within 45 days following the date of the Registration Rights Agreement (the “Filing Date”) and to use commercially
reasonable efforts to cause such registration statement to be declared effective within 45 days following the Filing Date (or in the case
of a “full review” by the Securities and Exchange Commission (the “SEC”), within 90 days following the Filing
Date) and to keep such registration statement effective until the date the Shares covered by such registration statement have been sold.
In the event that such registration statement is not filed or declared effective within the time frames set forth in the Registration
Rights Agreement, such effective registration statement subsequently becomes unavailable, or use of the prospectus contained in such registration
statement is suspended for certain periods of time, we will be required to pay certain liquidated damages to the Purchasers. The Company
has agreed to be responsible for all fees and expenses incurred in connection with the registration of the Shares.
The Registration Rights Agreement contains
covenants and other provisions customary for transactions of this nature. Pursuant to the Registration Rights Agreement, the Company
and the Purchasers have each also granted customary indemnification rights to the other in connection with the registration
statement.
The foregoing descriptions of the Purchase Agreement
and Registration Rights Agreement do not purport to be complete and are qualified in their entirety by reference to the Form of Purchase
Agreement and Form of Registration Rights Agreement, copies of which are filed as Exhibit 10.1 and Exhibit 10.2 hereto, respectively,
and are incorporated by reference herein.
The representations, warranties and covenants
contained in the Purchase Agreement and the Registration Rights Agreement were made solely for the benefit of the parties thereto and
the placement agent expressly named as a third-party beneficiary thereto and may be subject to limitations agreed upon by the contracting
parties. Accordingly, the Purchase Agreement and the Registration Rights Agreement are incorporated herein by reference only to provide
investors with information regarding the terms thereof and not to provide investors with any other factual information regarding the Company
or its business, and should be read in conjunction with the disclosures in the Company’s periodic reports and other filings with
the Securities and Exchange Commission.
Item 3.02Item 3.02 - Unregistered Sales of Equity
Item 3.02 Unregistered Sale of Securities.
The information contained above in Item 1.01 relating
to the private placement is hereby incorporated by reference into this Item 3.02. Based in part upon the representations of the Purchasers
in the Purchase Agreement, the offering and sale of the securities described above are being offered and sold in a private placement under
Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Regulation D promulgated thereunder,
and have not been registered under the Securities Act, or applicable state securities laws. Accordingly, such securities may not be offered
or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement
of the Securities Act and such applicable state securities laws.
Neither this Current Report on Form 8-K nor any
exhibit attached hereto is an offer to sell or the solicitation of an offer to buy shares of common stock or other securities of the Company.