NNBR News & Events

NN, Inc. announced that its medical products business has qualified and received initial purchase orders to manufacture critical components for a leading robotic-assisted surgery platform. The milestone follows a successful quality audit at the company's Kentwood, Michigan facility. The new customer has released first purchase orders with immediate delivery and ramp-up requirements. Following this contract win, the company's medical new business pipeline has increased by approximately $25M to around $75M overall, out of a total corporate new business pipeline of more than $750M. "This is a milestone event for NN's medical products growth program and a direct payoff on the investments we have made over the last three years to establish a premier presence in this medical market," said Harold Bevis, president and CEO of NN, Inc. "Passing this full facility quality audit and securing our first newly associated purchase orders to make precision components for a leading robotic surgery platform is a good step forward for NN."

NN, Inc. announced that it has entered into a securities purchase agreement for a private investment in public equity financing that is expected to result in gross proceeds of $75M before deducting placement agent fees and offering expenses. The PIPE is expected to close on or about July 2, subject to the satisfaction of customary closing conditions. Pursuant to the terms of the securities purchase agreement, at the closing of the PIPE, NN will issue an aggregate of 24,509,804 shares of common stock at a price of $3.06 per share. The company intends to use the net proceeds from the PIPE for working capital and general corporate purposes, which may include actions designed to optimize NN's balance sheet. Craig-Hallum Capital Group acted as the sole placement agent for the PIPE. Cooley LLP served as counsel to NN for the PIPE and Faegre Drinker Biddle & Reath served as counsel to the placement agent.

NN, Inc. provided an update on its Data Center business. NN's combined Data Center and Electric Grid business is already its second largest business. The Data Center & Electric Grid end markets are top targeted growth markets for the company along with Medical products and Defense and Electronics products. The company said, "NN has secured a significant amount of additional 2026 immediate-supply awards for liquid cooling products that go into NVIDIA AI data center racks. The new awards in this announcement are additive to prior communicated awards and greatly increase the size of NN's liquid cooling product portfolio for AI data center racks. NN is on its way to having 52 dedicated machines to make liquid cooled products for its data center business. 50 machines will be dedicated production lines and an additional 2 machines will be dedicated to making samples for new business. NN has already pre-sold 100% of the production capacity. NN is continuing to prospect globally and is using its global business development team and global machining footprint to prospect for additional business in this fast-growing area. In 2026, NN has attended Data Center tradeshows in the United States, Europe, and China." Harold Bevis, president and CEO of NN, Inc. commented, "The liquid-cooled AI data center market is one of our targeted end markets for growth. We announced the successful launch of a new product line in Q1 2026. It is a custom-designed, stainless-steel product line for the liquid-cooled data center market. Since then, we have secured multiple AI data center awards, have invested in an initial complement of 17 next-generation, high-speed, high-precision CNC machines at our Wuxi, China plant, and began production. We have a big set of data center products already but we are just beginning. We make products that go into both the electrical system and cooling system for Data Centers and produce these products in multiple plant locations. Today, we are pleased to announce that we have tripled the size of the liquid cooling product line that just launched in Q1 2026. Specifically, we have secured another set of multi-year, multi-product awards for stainless-steel cooling products for the NVIDIA supply chain. NN is now underway with procuring an additional 30 new machine centers on top of the 17 new CNC machine centers we previously announced. Additionally, we have successfully repurposed and retooled 5 automotive CNC production centers to become dedicated data center production. We have a strategic goal to rotate out of commodity auto products and this accelerates the achievement of that objective."