Form 4: Corre Partners Reduces Stake in NN Inc Through Multiple Transactions

Corre Partners Management, LLC and related entities have sold a significant number of NN Inc shares through multiple transactions on January 14, 2025, reducing their overall holdings.

Summary

• Corre Partners Management, LLC, along with related entities, sold a total of 427,630 shares of NN Inc common stock on January 14, 2025.
• The sales were executed in multiple transactions at weighted average prices of $3.7599 and $4.4145 per share.
• The shares were sold from two entities: Corre Opportunities Qualified Master Fund, LP and Corre Horizon Fund, LP.
• Following these transactions, Corre Partners and related entities still hold a substantial number of NN Inc shares, both directly and indirectly.
• The transactions were reported on a Form 4 filing with the Securities and Exchange Commission.

Sentiment

Score: 4

Explanation: The document indicates a reduction in holdings by a major shareholder, which is generally viewed negatively by the market. However, the document is a routine disclosure and does not indicate any major issues.

Negatives

• Corre Partners Management, LLC has reduced its stake in NN Inc through these sales.
• The sales were executed at prices below the high end of the trading range for the day.

Risks

• The sale of a significant number of shares by a major shareholder could potentially put downward pressure on the stock price.
• Further sales by Corre Partners could continue to impact the stock price.

Management Comments

• The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
• Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common in the financial markets. It provides transparency into the transactions of major shareholders.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders in publicly traded companies.
• The level of detail provided in this filing is consistent with SEC requirements.
• The transaction volume is significant, but not unusual for a large institutional investor.

Stakeholder Impact

• The sale of shares by Corre Partners could potentially negatively impact the share price, affecting current shareholders.
• The reduction in holdings by a major shareholder may cause some concern among investors.

Key Dates

Keywords

NN Inc, Corre Partners Management, share sale, Form 4, insider trading, stock transaction, institutional investor