Legion Partners Cuts NN Inc. Stake and Unwinds Swap Positions

summarizeSummary

Legion Partners, a key activist investor in NN Inc., sold shares and exited swap positions, reducing its stake to 5.6%. The move follows a similar exit by Corre Partners and a recent dilutive capital raise.

check_boxKey Events · Ownership and Investor Activity · NNBR

• Legion Partners Sells Shares, Exits Swaps

  Legion Partners I, II, and XI sold a combined 432,378 shares at a weighted average price of ~$3.90 and terminated cash-settled swap agreements covering 2,856,659 notional shares at $3.8362.

• Stake Reduced to 5.6%

  The Legion Partners group now beneficially owns 4,614,848 shares, or 5.6% of the outstanding total, down from a previously higher stake—a clear signal of reduced activist engagement.

• Follows Corre Partners Exit

  This sale comes after activist investor Corre Partners liquidated its entire NN Inc. position in July 2026, marking a broader retreat by activist funds.

• Backdrop of Dilutive Capital Raise

  The sales occur shortly after NN Inc. completed a $75 million private placement at $3.06 per share, which significantly diluted existing shareholders.

auto_awesomeAnalysis · NNBR · Technology

Activist investor Legion Partners trimmed its NN Inc. position through open-market stock sales and the termination of cash-settled swap agreements. The group sold over 432,000 shares at an average price near $3.90 and unwound swaps representing nearly 2.9 million shares. This move follows a pattern of activist exits—Corre Partners liquidated its stake in July—and comes just weeks after NN Inc. raised $75 million in a dilutive private placement. The sales suggest diminishing conviction among the activist investors who previously pushed for strategic changes.