NN, Inc. Files 8-K for Material Agreement and Financial Obligation

Ticker: NNBR · Form: 8-K · Filed: 2024-08-30T00:00:00.000Z

Sentiment: neutral

Topics: material-agreement, financial-obligation

TL;DR

NN, Inc. signed a big deal on Aug 29th, creating a new financial obligation. Details in the 8-K.

AI Summary

On August 29, 2024, NN, Inc. entered into a material definitive agreement and created a direct financial obligation. The filing details these events and includes financial statements and exhibits related to the agreement. The company is incorporated in Delaware and headquartered in Charlotte, North Carolina.

Why It Matters

This filing indicates NN, Inc. has entered into a significant new agreement that likely involves financial commitments, which could impact its future financial performance and operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet its obligations.

Key Numbers

Key Players & Entities

FAQ

What is the nature of the material definitive agreement entered into by NN, Inc. on August 29, 2024?

The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation, but the specific details of the agreement are not provided in this excerpt.

What is the direct financial obligation created by NN, Inc.?

The filing states that NN, Inc. created a direct financial obligation, but the specific terms and amount of this obligation are not detailed in the provided text.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing was on August 29, 2024.

Where is NN, Inc. incorporated and where are its principal executive offices located?

NN, Inc. is incorporated in Delaware and its principal executive offices are located at 6210 Ardrey Kell Road, Suite 120, Charlotte, North Carolina.

What is the SEC file number for NN, Inc.?

The SEC file number for NN, Inc. is 001-39268.

Filing Stats: 981 words · 4 min read · ~3 pages · Grade level 11.3 · Accepted 2024-08-30 08:20:37

Key Financial Figures

Filing Documents

01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. TLCA Amendment On August 29, 2024, NN, Inc., a Delaware corporation (the "Company"), certain subsidiaries of the Company named therein, the lenders party thereto and Oaktree Fund Administration, LLC ("Oaktree"), as administrative agent, entered into that certain Amendment No. 4 to Term Loan Credit Agreement (the "TLCA Amendment"), which amended the Company's existing Term Loan Credit Agreement, dated as of March 22, 2021 (as previously amended and as amended by the TLCA Amendment, the "Term Loan Credit Agreement"), by and among the Company, the lenders party thereto from time to time, and Oaktree, as administrative agent. The TLCA Amendment, among other things, (i) requires the Company to use the net cash proceeds obtained in connection with any future sale and leaseback transactions to prepay any outstanding principal indebtedness under the Term Loan Credit Agreement; (ii) raises the amount of the Company's allowable indebtedness – incurred in connection with the purchase or lease of fixed assets – from $20 million to $40 million, provided that no more than $26,950,000 is used with respect to any sale and leaseback transaction; (iii) makes certain modifications to the Domestic Liquidity (as defined in the Term Loan Credit Agreement) requirements; and (iv) amends certain definitions and other terms under the Term Loan Credit Agreement relating to sale and leaseback transactions. ABL Amendment Additionally, on August 29, 2024, the Company, certain subsidiaries of the Company named therein, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, entered into that certain Amendment No. 3 to Credit Agreement (the "ABL Amendment" and together with the TLCA Amendment, the "Loan Amendments"), which amended the Company's existing Credit Agreement, dated as of March 22, 2021 (as previously amended and as amended by the ABL Amendment, the "ABL Credit Agreement"), by and among the Company, the

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits. Exhibit No. Description of Exhibit 10.1 Amendment No. 4 to Term Loan Credit Agreement, dated as of August 29, 2024, by and among NN, Inc., certain subsidiaries of NN, Inc., the lenders party thereto and Oaktree Fund Administration, LLC, as administrative agent. 10.2 Amendment No. 3 to Credit Agreement, dated as of August 29, 2024, by and among NN, Inc., certain subsidiaries of NN, Inc., the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 30, 2024 NN, INC. By: /s/ Christopher H. Bohnert Name: Christopher H. Bohnert Title: Senior Vice President and Chief Financial Officer

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