Legion Partners Amends NN Inc. Stake Filing

TL;DR

Legion Partners updated their NN Inc. filing - check for ownership changes.

AI Summary

Legion Partners Asset Management, LLC, through its principal Christopher S. Kiper, has filed Amendment No. 11 to its Schedule 13D regarding NN, Inc. The filing, dated April 30, 2024, indicates a change in their beneficial ownership of NN, Inc. common stock. Legion Partners is an investment management firm based in Los Angeles, CA.

Why It Matters

This filing signals a potential shift in significant shareholder activity or strategy concerning NN, Inc., which could influence the company's stock performance and corporate governance.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant shareholder activity, which can lead to volatility or strategic changes in the company.

Key Numbers

• Amendment No. 11 — Filing Amendment (Indicates previous filings and ongoing updates)
• 20240430 — Filing Date (Date of the current filing)

Key Players & Entities

• Legion Partners Asset Management, LLC (company) — Filing entity
• Christopher S. Kiper (person) — Principal of Legion Partners
• NN, Inc. (company) — Subject company
• 12121 Wilshire Blvd, Suite 1240 Los Angeles, CA 90025 (address) — Business address of Legion Partners
• 6210 Ardrey Kell Road, Suite 120 Charlotte, NC 28277 (address) — Business address of NN, Inc.

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $32,766,696 — y by Legion Partners I is approximately $32,766,696, including brokerage commissions. The a
• $155,283 — y by Legion Partners I is approximately $155,283, including brokerage commissions. The a
• $603,836 — by Legion Partners II is approximately $603,836, including brokerage commissions. The a
• $7,909 — by Legion Partners II is approximately $7,909, including brokerage commissions. The a
• $7,675,865 — by Legion Partners XI is approximately $7,675,865, including brokerage commissions. The a
• $2,568 — gion Partners Holdings is approximately $2,568, including brokerage commissions. Item

Filing Documents

• sc13da1109050027_04302024.htm (SC 13D/A) — 262KB
• 0000921895-24-000987.txt ( ) — 263KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration .

is hereby amended and restated

Item 3 is hereby amended and restated in its entirety as follows: The Shares purchased by each of Legion Partners I, Legion Partners II and Legion Partners XI were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted herein or in Schedule A, which is incorporated herein by reference. The aggregate purchase price of the 3,519,420 Shares owned directly by Legion Partners I is approximately $32,766,696, including brokerage commissions. The aggregate purchase price of the 214,095 Shares underlying certain Warrants owned directly by Legion Partners I is approximately $155,283, including brokerage commissions. The aggregate purchase price of the 285,144 Shares owned directly by Legion Partners II is approximately $603,836, including brokerage commissions. The aggregate purchase price of the 10,905 Shares underlying certain Warrants owned directly by Legion Partners II is approximately $7,909, including brokerage commissions. The aggregate purchase price of the 877,065 Shares owned directly by Legion Partners XI is approximately $7,675,865, including brokerage commissions. The aggregate purchase price of the 300 Shares owned directly by Legion Partners Holdings is approximately $2,568, including brokerage commissions.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . Items 5(a)-(c) are hereby amended and restated in their entirety as follows: The aggregate percentage of Shares reported owned by each person named herein is based on a denominator that is the sum of: (i) 49,539,158 Shares outstanding as of March 20, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Definitive Proxy Statement filed with the Securities and Exchange Commission on April 4, 2024 and (ii) 225,000 Shares underlying the Warrants. A. Legion Partners I (a) As of the close of business on April 30, 2024, Legion Partners I beneficially owned directly 3,733,515 Shares, including 214,095 Shares underlying certain Warrants. Percentage: Approximately 7.5% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 3,733,515 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 3,733,515 (c) The transactions in the securities of the Issuer by Legion Partners I during the past sixty days are set forth in Schedule A and are incorporated herein by reference. B. Legion Partners II (a) As of the close of business on April 30, 2024, Legion Partners II beneficially owned directly 296,049 Shares, including 10,905 Shares underlying certain Warrants. Percentage: Less than 1% 10 CUSIP No. 629337106 (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 296,049 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 296,049 (c) The transactions in the securities of the Issuer by Legion Partners II during the past sixty days are set forth in Schedule A and are incorporated herein by reference. C. Legion Partners XI (a) As of the close of business on April 30, 2024, Legion Partners XI beneficially owned directly 877,065 Shares. Percentage: Approximately 1.8% (b) 1. Sole power to vote or direct vote: 0 2.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: April 30, 2024 Legion Partners, L.P. I By: Legion Partners Asset Management, LLC Investment Advisor By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Director Legion Partners, L.P. II By: Legion Partners Asset Management, LLC Investment Advisor By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Director Legion Partners Special Opportunities, L.P. XI By: Legion Partners Asset Management, LLC Investment Advisor By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Director Legion Partners, LLC By: Legion Partners Holdings, LLC Managing Member By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Member 14 CUSIP No. 629337106 Legion Partners Asset Management, LLC By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Director Legion Partners Holdings, LLC By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Member /s/ Christopher S. Kiper Christopher S. Kiper /s/ Raymond White Raymond White 15 CUSIP No. 629337106 SCHEDULE A Transactions in the Securities of the Issuer During the Past Sixty Days Nature of Transaction Date of Purchase Amount of Securities Purchased Price ($) Legion Partners, L.P. I Purchase of Common Stock 04/15/2024 12,110 3.8095 Purchase of Common Stock 04/16/2024 27,785 3.8235 Purchase of Common Stock 04/17/2024 37,832 3.8552 Purchase of Common Stock 04/18/2024 28,620 3.8603 Purchase of Common Stock 04/19/2024 54,738 3.8969 Purchase of Common Stock 04/22/2024 11,438 3.8699 Purchase of Common Stock 04/23/2024 9,965 3.9685 Purchase of Common Stock 04/24/2024 62,053 3.8659 Purchase of Common