NN Inc (NNBR) has issued an update.
NN, Inc. has struck a deal to sell and lease back several facilities to Tenet Equity Funding SPE III, LLC for $16.8 million, aiming to reduce its debt from existing credit facilities. The transaction, expected to close by mid-March 2024, includes a 20-year lease agreement allowing NN, Inc. to maintain its operations at these sites. The move was publicized in a press release, signaling a strategic financial maneuver by the company within the stock market landscape.
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