Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - NN INC | d866404dex991.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 6, 2020
NN, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 000-23486 | 62-1096725 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
| 6210 Ardrey Kell Road Charlotte, North Carolina |
28277 | |||
| (Address of principal executive offices) | (Zip Code) | |||
(980) 264-4300
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d- 2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading symbol |
Name of each exchange on which registered | ||
| Common Stock, par value $0.01 | NNBR | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company. ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| ITEM 2.03. | CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT. |
As previously disclosed, NN, Inc. (the “Company”) has a Senior Secured Revolver (the “Revolver”), and as of December 31, 2019, there was total available capacity of $75.0 million under the Revolver, with $63.9 million available for future borrowings. As of December 31, the Company had no outstanding borrowing under the Revolver. In light of uncertainty associated with the ongoing coronavirus (COVID-19) pandemic and to increase liquidity, in March 2020, the Company drew down $60 million under its Revolver. As of April 3, 2020 the outstanding borrowings under the Revolver totaled $60 million. The Revolver matures on July 20, 2022.
| ITEM 7.01. | REGULATION FD. |
On April 6, 2020, the Company issued a press release regarding the impact of the ongoing coronavirus (COVID-19) pandemic and announced a withdrawal of its previously provided full-year 2020 financial guidance. The press release is furnished herewith as Exhibit 99.1.
| ITEM 9.01. | FINANCIAL STATEMENTS AND EXHIBITS. |
| (d) | Exhibits. |
| Exhibit No. |
Description | |
| 99.1 | Press Release issued by NN, Inc., dated April 6, 2020 | |
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: April 6, 2020
| NN, INC. | ||
| By: | /s/ Thomas D. Debyle | |
| Name: | Thomas D. Debyle | |
| Title: | Senior Vice President and Chief Financial Officer | |