JOHNSON CITY, Tenn.,
July 1, 2015 /PRNewswire/ -- NN,
Inc. (NASDAQ: NNBR), a diversified industrial company, announced
today the closing of its previously announced underwritten
registered public offering of common stock. The total number
of shares of common stock sold was 7,590,000, composed of 6,600,000
shares of common stock initially offered and an additional 990,000
shares of common stock sold pursuant to the exercise of the
underwriters' option to purchase additional shares, in each case at
a public offering price of $24.00 per
share. All of the shares in the offering were sold by NN.
The net proceeds to NN from the offering, after deducting
underwriting discounts and commissions and estimated offering
expenses, are approximately $173
million.
KeyBanc Capital Markets Inc. acted as sole book-running manager
for the offering and William Blair
& Company, L.L.C., Stephens Inc., Stifel, Nicolaus, &
Company, Incorporated, Avondale Partners, LLC, CJS Securities, Inc.
and Regions Securities LLC acted as co-managers.
The shares were offered pursuant to a shelf registration
statement on Form S-3 that was previously filed with, and declared
effective by, the Securities Exchange Commission (SEC). The final
prospectus supplement and accompanying prospectus related to this
offering are located on the SEC's website, www.sec.gov.
Copies of the final prospectus supplement and accompanying
prospectus may also be obtained from KeyBanc Capital Markets Inc.,
Attention: Equity Syndicate, 127 Public Square, 4th Floor,
Cleveland, Ohio 44114 or by
telephone at (800) 859-1783.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About NN, Inc.
NN, Inc., a diversified industrial company, manufactures and
supplies high precision metal bearing components, industrial
plastic and rubber products and precision metal components to a
variety of markets on a global basis. Headquartered in
Johnson City, Tennessee, NN has 26
manufacturing plants in North
America, Western Europe,
Eastern Europe, South America and China.
Additional Information
Except for specific historical information, many of the
matters discussed in this press release may express or imply
projections of revenues or expenditures, statements of plans and
objectives or future operations or statements of future economic
performance. These, and similar statements, are forward-looking
statements concerning matters that involve risks, uncertainties and
other factors which may cause the actual performance of NN, Inc.
and its subsidiaries to differ materially from those expressed or
implied by this discussion. All forward-looking information is
provided by the Company pursuant to the safe harbor established
under the Private Securities Litigation Reform Act of 1995 and
should be evaluated in the context of these factors.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "assumptions", "target",
"guidance", "outlook", "plans", "projection", "may", "will",
"would", "expect", "intend", "estimate", "anticipate", "believe",
"potential" or "continue" (or the negative or other derivatives of
each of these terms) or similar terminology. Factors which could
materially affect actual results include, but are not limited to:
general economic conditions and economic conditions in the
industrial sector, inventory levels, regulatory compliance costs
and the Company's ability to manage these costs, start-up costs for
new operations, debt reduction, competitive influences, risks that
current customers will commence or increase captive production,
risks of capacity underutilization, quality issues, availability
and price of raw materials, currency and other risks associated
with international trade, the Company's dependence on certain major
customers, and the successful implementation of the global growth
plan including development of new products. Similarly, statements
made herein and elsewhere regarding pending or completed
acquisitions are also forward-looking statements, including
statements relating to the anticipated closing date of an
acquisition, the Company's ability to obtain required regulatory
approvals or satisfy closing conditions, the costs of an
acquisition and the Company's source(s) of financing, the future
performance and prospects of an acquired business, the expected
benefits of an acquisition on the Company's future business and
operations and the ability of the Company to successfully integrate
recently acquired businesses.
For additional information concerning such risk factors and
cautionary statements, please see the section titled "Risk Factors"
in the Company's periodic reports filed with the Securities and
Exchange Commission, including, but not limited to, the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Except as required by law, we
undertake no obligation to update or revise any forward-looking
statements we make in our press releases, whether as a result of
new information, future events or otherwise.
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SOURCE NN, Inc.