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Stock Market & Financial Investment News

News Breaks
July 21, 2014
08:18 EDTNNBRNN, Inc. agrees to acquire Autocam
NN, Inc. announced that it has entered into a definitive agreement to acquire Autocam for $244.5M in cash, $25M in stock and the assumption of $30.5M in debt. The transaction is expected to be immediately accretive to earnings. The company anticipates the transaction to close in the third quarter, subject to customary closing conditions and regulatory approval. NN was advised on the transaction by KeyBanc Capital Markets. With expected 2014 sales of approximately $250 million, Autocam employs over 2,100 employees and has operations in 15 facilities in the U.S., Europe, South America and Asia. The expected 2014 sales do not include approximately $42 million in expected sales from a 49% Chinese joint venture accounted for under the equity method.
News For NNBR From The Last 14 Days
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June 25, 2015
19:07 EDTNNBRNN, Inc. 6.6M share Secondary priced at $24.00
The size of the deal was raised to 6.6M shares from 6M shares. KeyBanc acted as lead book running manager for the offering.
June 22, 2015
16:04 EDTNNBRNN, Inc. announce public offering of 6M shares of common stock
NN intends to use the net proceeds from the offering to repay debt under its term loan and asset-backed revolving credit facility, and the remainder of the net proceeds will be used for other general corporate purposes, including to fund acquisitions and investments, to finance capital expenditures, to repay or refinance other borrowings and to provide working capital. KeyBanc Capital Markets Inc. is acting as sole book-running manager for the offering and William Blair & Company, L.L.C., Stephens Inc., Stifel, Nicholaus, & Company, Incorporated, Avondale Partners, LLC, CJS Securities, Inc. and Regions Securities LLC are acting as co-managers.
June 18, 2015
16:05 EDTNNBRNN, Inc. lowers FY15 revenue guidance to $660M-$670M from $670M-$690
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