Faegre Drinker Serves as Counsel to Lake Street Capital Markets in $53M PIPE Financing for NN, Inc.

A Faegre Drinker team served as counsel to Lake Street Capital Markets, as sole placement agent, in NN, Inc.’s (NASDAQ: NNBR) $53 million private placement of common stock and pre-funded warrants.

NN, Inc., a global leader in precision manufacturing, entered into the securities purchase agreement for a private investment in public equity financing expected to generate approximately $50 million in net proceeds after deducting placement agent fees and offering expenses.

At closing, NN will issue an aggregate of 16.1 million shares of common stock and pre-funded warrants. Each pre-funded warrant will be immediately exercisable at an exercise price of $0.01 per share of common stock, subject to specified conditions, and will not expire.

The Faegre Drinker team was led by corporate partners Jonathan Zimmerman and Chad Lange and also included corporate associate Caroline Keefe and legal clerk Linda Wang.

Read NN, Inc.’s press release for more information.