Tag: GlobeNewswire

Great Falls, VA, Oct. 02, 2026 (GLOBE NEWSWIRE) — Thunder Bridge Capital Partners V, Ltd. (the “Company”) announced today that, commencing October 5, 2026, holders of the 30,015,000 units sold in the Company’s initial public offering may elect to separately trade the Company’s Class A ordinary shares and warrants included in the units. The Class A ordinary shares and warrants that are separated will trade on The Nasdaq Global Market (“Nasdaq”) under the symbols “TBCV” and “TBCVW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on Nasdaq under the symbol “TBCVU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and warrants.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and was declared effective on August 12, 2026. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the units and the underlying securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination in any industry or geographic location, the Company intends to concentrate its search on high potential businesses based in the United States. The Company is led by Chief Executive Officer Gary A. Simanson.

The initial public offering was made only by means of a prospectus. Copies of the prospectus may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, New York, New York 10022; Email: prospectus@cantor.com, or by accessing the SEC’s website, www.sec.gov.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and final prospectus for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact

Gary A. Simanson
gsimanson@thunderbridge.us

PRINCETON, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, today announced the launch of a proposed $600 million seven-year Senior Secured Term Loan B as part of a broader refinancing transaction.

The Company intends to use the net proceeds from the Term Loan B, together with other sources of financing, to refinance certain of its existing indebtedness and pay associated fees and expenses.

“This transaction allows us to refinance our existing debt, extend maturities and maintain financial flexibility. It positions us well as we continue to focus on disciplined capital allocation and deleveraging,” said Lea Knight, Executive Vice President and Chief Financial Officer.

The proposed financing is expected to be completed in conjunction with a refinancing of the Company’s existing capital structure, subject to market and other customary conditions. There can be no assurance as to whether or when the financing will be completed, or as to the final size, terms, or pricing of the transaction.

About Integra LifeSciences

Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies is trusted by healthcare professionals to deliver transformative care. For the latest news and information about Integra LifeSciences and its products, please visit www.integralife.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed financing transaction, expected use of proceeds, capital structure, liquidity, leverage and financial flexibility. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those described. Integra undertakes no obligation to update any forward-looking statements except as required by law.

Investor Relations:

Chris Ward

(609) 772-7736

chris.ward@integralife.com   

Media Contact:

Laurene Isip

(609) 208-8121

laurene.isip@integralife.com

PRINCETON, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, today announced the launch of a proposed $600 million seven-year Senior Secured Term Loan B as part of a broader refinancing transaction.

The Company intends to use the net proceeds from the Term Loan B, together with other sources of financing, to refinance certain of its existing indebtedness and pay associated fees and expenses.

“This transaction allows us to refinance our existing debt, extend maturities and maintain financial flexibility. It positions us well as we continue to focus on disciplined capital allocation and deleveraging,” said Lea Knight, Executive Vice President and Chief Financial Officer.

The proposed financing is expected to be completed in conjunction with a refinancing of the Company’s existing capital structure, subject to market and other customary conditions. There can be no assurance as to whether or when the financing will be completed, or as to the final size, terms, or pricing of the transaction.

About Integra LifeSciences

Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies is trusted by healthcare professionals to deliver transformative care. For the latest news and information about Integra LifeSciences and its products, please visit www.integralife.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed financing transaction, expected use of proceeds, capital structure, liquidity, leverage and financial flexibility. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those described. Integra undertakes no obligation to update any forward-looking statements except as required by law.

Investor Relations:

Chris Ward

(609) 772-7736

chris.ward@integralife.com   

Media Contact:

Laurene Isip

(609) 208-8121

laurene.isip@integralife.com

October 1st Launch Places Company on Track for Daily Global Remapping in H2 2027

NEW YORK, Oct. 02, 2026 (GLOBE NEWSWIRE) — Satellogic Inc. (“Satellogic”) (NASDAQ: SATL), the infrastructure company for Persistent Global Intelligence (PGI), today announced the successful satellite launch of its first Merlin.01, two NewSat Mark VIs, and one NewSat Mark V. The satellites were delivered into sun-synchronous low-Earth orbit from Vandenberg Space Force Base, California onboard a SpaceX Falcon 9 on October 1st. They have made contact with Satellogic’s ground station network with good health reports for all subsystems.

Merlin.01 is the first satellite in Satellogic’s Merlin constellation, designed to provide a global detection layer for theater-scale monitoring. Merlin satellites carry 10-band payloads aligned with Sentinel, with 1m-class imagery and an effective swath of 170 km, making the constellation capable of remapping the Earth daily. Merlin is also designed with onboard AI processing to deliver alerts within 30 minutes.

Merlin takes Satellogic’s work with Aleph Observer from known-site monitoring to whole-world continuous awareness and detection. Using edge computing along with inter-satellite link (ISL) technology, Merlin is designed to recognize change and deliver quick insights. It is also built to cue NewSat Mark VI satellites in real time for 50cm follow-up to provide confirmation and context where needed, all without first needing to route through a ground station.

“Merlin is designed to process every pixel with AI directly onboard, then use inter-satellite links to direct NewSat VIs to capture what it finds in higher resolution,” said Alan Kharsansky, Chief Technology Officer of Satellogic. “That means governments and organizations will no longer need to know where to look. The constellation will find change for them so they can act with confidence and speed.”

Merlin.01 is now in its Launch and Early Orbit Phase (LEOP). Payload testing and commissioning will begin once LEOP completes, in mid-October 2026. Merlin is on track to reach full operational capacity in H2 2027.

“This is the start of a new chapter for Satellogic,” says Emiliano Kargieman, Chief Executive Officer of Satellogic. “Governments and organizations need to see change across an entire theater, not just the sites they already monitor. Merlin is built to deliver that view at a scale and cost that make routine country-wide monitoring practical.”

A Media Snippet accompanying this announcement is available by clicking on this link.

About Satellogic

Founded in 2010, Satellogic (NASDAQ: SATL) builds the infrastructure for Persistent Global Intelligence (PGI): continuous, proactive awareness of the places, assets, and activities that matter. The company combines high-cadence satellite collection, best-in-class technology, AI-accelerated workflows, and sovereign-trusted architecture to help customers move from episodic imagery to persistent monitoring programs.

Satellogic serves allied defense and intelligence agencies, civil governments, and commercial markets that need reliable, scalable awareness of change across large portfolios of sites. Customers can begin with discovery, expand into persistent monitoring, and build toward dedicated or sovereign-controlled capacity as their mission requirements grow. To learn more, please visit: https://www.satellogic.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning, among other things, our plans, strategies, prospects, both business and financial. Although we believe our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot give any assurance that we either will achieve or realize these plans, intentions or expectations.

Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. Many actual events and circumstances are beyond the control of the Company.

Many factors could cause actual future results to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to generate revenue as expected, including due to challenges created by macroeconomic concerns, geopolitical uncertainty (e.g., trade relationships), financial market fluctuations and related factors, (ii) our ability to effectively market and sell our Persistent Global Intelligence (“PGI”) services and to convert contracted revenues and our pipeline of potential contracts into actual revenues, (iii) market acceptance of our PGI services and our dependence upon our ability to keep pace with the latest technological advances, including those related to artificial intelligence and machine learning; (iv) risks related to the secured convertible notes, (v) the potential loss of one or more of our largest customers, (vi) the considerable time and expense related to our sales efforts and the length and unpredictability of our sales cycle, (vii) risks and uncertainties associated with defense-related contracts, (viii) risk related to our pricing structure, (ix) our ability to scale production of our satellites as planned, (x) unforeseen risks, challenges and uncertainties related to our expansion into new business lines, (xi) our dependence on third parties, including SpaceX, to transport and launch our satellites into space, (xii) our reliance on third-party vendors and manufacturers to build and provide certain satellite components, products, or services and the inability of these vendors and manufacturers to meet our needs, (xiii) our dependence on ground station and cloud-based computing infrastructure operated by third parties for value-added services, and any errors, disruption, performance problems, or failure in their or our operational infrastructure, (xiv) risk related to certain minimum service requirements in our customer contracts, (xv) our ability to identify suitable acquisition candidates or consummate acquisitions on acceptable terms, or our ability to successfully integrate acquisitions, (xvi) competition for PGI services, (xvii) risks related to changes in tax laws and regulations, including the “One Big Beautiful Bill Act,” (xviii) risks related to changes in trade policy and the related impact on macroeconomic conditions, including further expansions of U.S. export controls and tariffs, as well as related retaliatory actions, (xix) challenges with international operations or unexpected changes to the regulatory environment in certain markets, (xx) unknown defects or errors in our products, (xxi) risk related to the capital-intensive nature of our business and our ability to raise adequate capital to finance our business strategies, (xxii) uncertainties beyond our control related to the production, launch, commissioning, and/or operation of our satellites and related ground systems, software and analytic technologies, (xxiii) the failure of the market for PGI services to achieve the growth potential we expect, (xxiv) risks related to our satellites and related equipment becoming impaired; (xxv) risks related to the failure of our satellites to operate as intended, (xxvi) production and launch delays, launch failures, and damage or destruction to our satellites during launch, and (xxvii) the impact of natural disasters, unusual or prolonged unfavorable weather conditions, epidemic outbreaks, terrorist acts and geopolitical events (including the ongoing conflicts between the United States and Iran, Russia and Ukraine, and in the Gaza Strip) on our business and satellite launch schedules.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s Annual Report on Form 10-K and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.

Contacts

Satellogic Investor Relations:
ir@satellogic.com

Satellogic Media Relations:
pr@satellogic.com

October 1st Launch Places Company on Track for Daily Global Remapping in H2 2027

NEW YORK, Oct. 02, 2026 (GLOBE NEWSWIRE) — Satellogic Inc. (“Satellogic”) (NASDAQ: SATL), the infrastructure company for Persistent Global Intelligence (PGI), today announced the successful satellite launch of its first Merlin.01, two NewSat Mark VIs, and one NewSat Mark V. The satellites were delivered into sun-synchronous low-Earth orbit from Vandenberg Space Force Base, California onboard a SpaceX Falcon 9 on October 1st. They have made contact with Satellogic’s ground station network with good health reports for all subsystems.

Merlin.01 is the first satellite in Satellogic’s Merlin constellation, designed to provide a global detection layer for theater-scale monitoring. Merlin satellites carry 10-band payloads aligned with Sentinel, with 1m-class imagery and an effective swath of 170 km, making the constellation capable of remapping the Earth daily. Merlin is also designed with onboard AI processing to deliver alerts within 30 minutes.

Merlin takes Satellogic’s work with Aleph Observer from known-site monitoring to whole-world continuous awareness and detection. Using edge computing along with inter-satellite link (ISL) technology, Merlin is designed to recognize change and deliver quick insights. It is also built to cue NewSat Mark VI satellites in real time for 50cm follow-up to provide confirmation and context where needed, all without first needing to route through a ground station.

“Merlin is designed to process every pixel with AI directly onboard, then use inter-satellite links to direct NewSat VIs to capture what it finds in higher resolution,” said Alan Kharsansky, Chief Technology Officer of Satellogic. “That means governments and organizations will no longer need to know where to look. The constellation will find change for them so they can act with confidence and speed.”

Merlin.01 is now in its Launch and Early Orbit Phase (LEOP). Payload testing and commissioning will begin once LEOP completes, in mid-October 2026. Merlin is on track to reach full operational capacity in H2 2027.

“This is the start of a new chapter for Satellogic,” says Emiliano Kargieman, Chief Executive Officer of Satellogic. “Governments and organizations need to see change across an entire theater, not just the sites they already monitor. Merlin is built to deliver that view at a scale and cost that make routine country-wide monitoring practical.”

A Media Snippet accompanying this announcement is available by clicking on this link.

About Satellogic

Founded in 2010, Satellogic (NASDAQ: SATL) builds the infrastructure for Persistent Global Intelligence (PGI): continuous, proactive awareness of the places, assets, and activities that matter. The company combines high-cadence satellite collection, best-in-class technology, AI-accelerated workflows, and sovereign-trusted architecture to help customers move from episodic imagery to persistent monitoring programs.

Satellogic serves allied defense and intelligence agencies, civil governments, and commercial markets that need reliable, scalable awareness of change across large portfolios of sites. Customers can begin with discovery, expand into persistent monitoring, and build toward dedicated or sovereign-controlled capacity as their mission requirements grow. To learn more, please visit: https://www.satellogic.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning, among other things, our plans, strategies, prospects, both business and financial. Although we believe our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot give any assurance that we either will achieve or realize these plans, intentions or expectations.

Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. Many actual events and circumstances are beyond the control of the Company.

Many factors could cause actual future results to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to generate revenue as expected, including due to challenges created by macroeconomic concerns, geopolitical uncertainty (e.g., trade relationships), financial market fluctuations and related factors, (ii) our ability to effectively market and sell our Persistent Global Intelligence (“PGI”) services and to convert contracted revenues and our pipeline of potential contracts into actual revenues, (iii) market acceptance of our PGI services and our dependence upon our ability to keep pace with the latest technological advances, including those related to artificial intelligence and machine learning; (iv) risks related to the secured convertible notes, (v) the potential loss of one or more of our largest customers, (vi) the considerable time and expense related to our sales efforts and the length and unpredictability of our sales cycle, (vii) risks and uncertainties associated with defense-related contracts, (viii) risk related to our pricing structure, (ix) our ability to scale production of our satellites as planned, (x) unforeseen risks, challenges and uncertainties related to our expansion into new business lines, (xi) our dependence on third parties, including SpaceX, to transport and launch our satellites into space, (xii) our reliance on third-party vendors and manufacturers to build and provide certain satellite components, products, or services and the inability of these vendors and manufacturers to meet our needs, (xiii) our dependence on ground station and cloud-based computing infrastructure operated by third parties for value-added services, and any errors, disruption, performance problems, or failure in their or our operational infrastructure, (xiv) risk related to certain minimum service requirements in our customer contracts, (xv) our ability to identify suitable acquisition candidates or consummate acquisitions on acceptable terms, or our ability to successfully integrate acquisitions, (xvi) competition for PGI services, (xvii) risks related to changes in tax laws and regulations, including the “One Big Beautiful Bill Act,” (xviii) risks related to changes in trade policy and the related impact on macroeconomic conditions, including further expansions of U.S. export controls and tariffs, as well as related retaliatory actions, (xix) challenges with international operations or unexpected changes to the regulatory environment in certain markets, (xx) unknown defects or errors in our products, (xxi) risk related to the capital-intensive nature of our business and our ability to raise adequate capital to finance our business strategies, (xxii) uncertainties beyond our control related to the production, launch, commissioning, and/or operation of our satellites and related ground systems, software and analytic technologies, (xxiii) the failure of the market for PGI services to achieve the growth potential we expect, (xxiv) risks related to our satellites and related equipment becoming impaired; (xxv) risks related to the failure of our satellites to operate as intended, (xxvi) production and launch delays, launch failures, and damage or destruction to our satellites during launch, and (xxvii) the impact of natural disasters, unusual or prolonged unfavorable weather conditions, epidemic outbreaks, terrorist acts and geopolitical events (including the ongoing conflicts between the United States and Iran, Russia and Ukraine, and in the Gaza Strip) on our business and satellite launch schedules.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s Annual Report on Form 10-K and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.

Contacts

Satellogic Investor Relations:
ir@satellogic.com

Satellogic Media Relations:
pr@satellogic.com

First patient expected to be dosed in the DUET study in the fourth quarter of 2026

Milestone triggers second closing of March 2025 private placement expected to provide approximately $95.1M in gross proceeds

SOUTH SAN FRANCISCO, Calif., Oct. 02, 2026 (GLOBE NEWSWIRE) — Surrozen, Inc. (Surrozen or the Company) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced its Investigational New Drug (IND) application for SZN-8141 has become effective, enabling the Company to advance the program into clinical development. SZN-8141 is a bifunctional Wnt agonist and vascular endothelial growth factor (VEGF) antagonist antibody being developed as an intravitreal injection for the treatment of diabetic macular edema (DME).

The Company expects to dose the first patient in DUET, a Phase 1b/2a clinical study evaluating SZN-8141 in patients with DME, in the fourth quarter of 2026.

“FDA clearance of the SZN-8141 IND marks an important milestone for Surrozen as we advance our Wnt-based ophthalmology pipeline into clinical development,” said Craig Parker, Chief Executive Officer of Surrozen. “We look forward to initiating the DUET study and evaluating SZN-8141 in patients with diabetic macular edema. Importantly, this milestone also satisfies the condition for the second closing of our March 2025 private placement, which is expected to provide approximately $95.1 million in gross proceeds to support the advancement of SZN-8141 and SZN-8143.”

Second Closing of March 2025 Private Placement

The FDA clearance of the SZN-8141 IND satisfies the second closing milestone under Surrozen’s March 2025 two-tranche private placement.

Subject to the terms and conditions of the securities purchase agreement, the second closing is expected to provide approximately $95.1 million in gross proceeds to Surrozen, before deducting placement agent fees and other expenses. The second closing is expected to occur on or about October 20, 2026, subject to satisfaction of the applicable closing conditions.

Following the second closing, Surrozen expects to file a new registration statement on Form S-3 with the U.S. Securities and Exchange Commission to register the resale of the shares of common stock and shares issuable upon exercise of the pre-funded warrants and Series E common stock warrants issued in the second closing. Pursuant to a registration rights agreement with the investors, Surrozen is required to file the registration statement no later than 30 calendar days following the second closing date.

The proceeds from the second closing are expected to support the development of SZN-8141 and SZN-8143 and the Company’s broader operating activities.

About SZN-8141 for Retinal Diseases 
Surrozen is developing SZN-8141 as an intravitreal injection for the treatment of DME and neovascular age-related macular degeneration (wet AMD). SZN-8141 combines Frizzled 4 (FZD4)-mediated Wnt agonism and VEGF antagonism and has the potential to provide benefits over treatment with single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, Merck’s MK-3000, a FZD4-mediated Wnt agonist monotherapy, achieved its primary endpoint in a Phase 2b/3 clinical trial in DME, supporting the therapeutic potential of Wnt pathway activation in retinal vascular disease. We believe SZN-8141 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth.

About DUET
The Phase 1b/2a DUET study is designed to assess the safety, tolerability, and early signs of biological and clinical activity of SZN-8141. The trial consists of an open-label Phase 1b single-ascending-dose portion enrolling both treatment-naïve and previously treated patients with DME (Part 1), followed by a randomized, double-masked Phase 2a dose-expansion portion in treatment-naïve patients with DME (Part 2). In Part 1, patients will receive a single intravitreal injection of SZN-8141 and be followed for approximately three months to evaluate safety and tolerability, as well as pharmacokinetics, immunogenicity, and exploratory measures of retinal function and anatomy including best-corrected visual acuity (BCVA), optical coherence tomography (OCT), OCT angiography (OCT-A), and ultra-widefield fluorescein angiography. Part 2 is expected to evaluate two dose levels of SZN-8141 compared with Vabysmo^® (faricimab-svoa) in approximately 60 treatment-naïve patients with DME. Patients are planned to receive three monthly doses followed by an additional four-month follow-up period to assess durability of effect. Key outcome measures include the same functional and anatomic measurements as in Part 1. First patient dosing is expected in the fourth quarter of 2026, with initial data expected in the second half of 2027. The Company is also planning to develop SZN-8141 in neovascular age-related macular degeneration and is evaluating development in other retinal vascular diseases.

About SZN-8143 for Retinal Diseases 
Surrozen is developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema (UME). SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism and may have benefits over single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, Merck’s MK-3000, a Fzd4 monotherapy, achieved its primary endpoint in a Phase 2b/3 clinical trial in DME, supporting the therapeutic potential of Wnt pathway activation in retinal vascular disease. The Company believes SZN-8143 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth.

About Surrozen
Surrozen is a biotechnology company, pioneering a new class of Wnt-based therapeutics designed to harness the power of Wnt signaling to treat sight-threatening ophthalmic conditions. Built on deep scientific expertise and a proprietary antibody-engineering platform, Surrozen develops multifunctional biologics that selectively activate Wnt signaling in combination with other key disease pathways. Our approach aims to deliver best-in-class, durable therapies that have the potential to transform patient outcomes in some of the most pressing unmet medical needs in ocular diseases.  For more information, visit www.surrozen.com. 

Forward-Looking Statements 
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, such as the Company’s plan to dose the first patient in the DUET Phase 1b/2a study in DME patients in the fourth quarter of 2026, the availability of data, such as initial data from the DUET study being anticipated in the second half of 2027, Surrozen’s plan to develop SZN-8141 in neovascular age-related macular degeneration, the potential for such product candidates to be used to treat human disease or address unmet needs in serious eye diseases, as well as the potential benefits and potential differentiation from existing therapies of such product candidates, and the anticipated use of proceeds from the second closing of the private placement). These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for its product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2025, and Surrozen’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Investor/Media Contact:
Email: Investorinfo@surrozen.com

First patient expected to be dosed in the DUET study in the fourth quarter of 2026

Milestone triggers second closing of March 2025 private placement expected to provide approximately $95.1M in gross proceeds

SOUTH SAN FRANCISCO, Calif., Oct. 02, 2026 (GLOBE NEWSWIRE) — Surrozen, Inc. (Surrozen or the Company) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced its Investigational New Drug (IND) application for SZN-8141 has become effective, enabling the Company to advance the program into clinical development. SZN-8141 is a bifunctional Wnt agonist and vascular endothelial growth factor (VEGF) antagonist antibody being developed as an intravitreal injection for the treatment of diabetic macular edema (DME).

The Company expects to dose the first patient in DUET, a Phase 1b/2a clinical study evaluating SZN-8141 in patients with DME, in the fourth quarter of 2026.

“FDA clearance of the SZN-8141 IND marks an important milestone for Surrozen as we advance our Wnt-based ophthalmology pipeline into clinical development,” said Craig Parker, Chief Executive Officer of Surrozen. “We look forward to initiating the DUET study and evaluating SZN-8141 in patients with diabetic macular edema. Importantly, this milestone also satisfies the condition for the second closing of our March 2025 private placement, which is expected to provide approximately $95.1 million in gross proceeds to support the advancement of SZN-8141 and SZN-8143.”

Second Closing of March 2025 Private Placement

The FDA clearance of the SZN-8141 IND satisfies the second closing milestone under Surrozen’s March 2025 two-tranche private placement.

Subject to the terms and conditions of the securities purchase agreement, the second closing is expected to provide approximately $95.1 million in gross proceeds to Surrozen, before deducting placement agent fees and other expenses. The second closing is expected to occur on or about October 20, 2026, subject to satisfaction of the applicable closing conditions.

Following the second closing, Surrozen expects to file a new registration statement on Form S-3 with the U.S. Securities and Exchange Commission to register the resale of the shares of common stock and shares issuable upon exercise of the pre-funded warrants and Series E common stock warrants issued in the second closing. Pursuant to a registration rights agreement with the investors, Surrozen is required to file the registration statement no later than 30 calendar days following the second closing date.

The proceeds from the second closing are expected to support the development of SZN-8141 and SZN-8143 and the Company’s broader operating activities.

About SZN-8141 for Retinal Diseases 
Surrozen is developing SZN-8141 as an intravitreal injection for the treatment of DME and neovascular age-related macular degeneration (wet AMD). SZN-8141 combines Frizzled 4 (FZD4)-mediated Wnt agonism and VEGF antagonism and has the potential to provide benefits over treatment with single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, Merck’s MK-3000, a FZD4-mediated Wnt agonist monotherapy, achieved its primary endpoint in a Phase 2b/3 clinical trial in DME, supporting the therapeutic potential of Wnt pathway activation in retinal vascular disease. We believe SZN-8141 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth.

About DUET
The Phase 1b/2a DUET study is designed to assess the safety, tolerability, and early signs of biological and clinical activity of SZN-8141. The trial consists of an open-label Phase 1b single-ascending-dose portion enrolling both treatment-naïve and previously treated patients with DME (Part 1), followed by a randomized, double-masked Phase 2a dose-expansion portion in treatment-naïve patients with DME (Part 2). In Part 1, patients will receive a single intravitreal injection of SZN-8141 and be followed for approximately three months to evaluate safety and tolerability, as well as pharmacokinetics, immunogenicity, and exploratory measures of retinal function and anatomy including best-corrected visual acuity (BCVA), optical coherence tomography (OCT), OCT angiography (OCT-A), and ultra-widefield fluorescein angiography. Part 2 is expected to evaluate two dose levels of SZN-8141 compared with Vabysmo^® (faricimab-svoa) in approximately 60 treatment-naïve patients with DME. Patients are planned to receive three monthly doses followed by an additional four-month follow-up period to assess durability of effect. Key outcome measures include the same functional and anatomic measurements as in Part 1. First patient dosing is expected in the fourth quarter of 2026, with initial data expected in the second half of 2027. The Company is also planning to develop SZN-8141 in neovascular age-related macular degeneration and is evaluating development in other retinal vascular diseases.

About SZN-8143 for Retinal Diseases 
Surrozen is developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema (UME). SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism and may have benefits over single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, Merck’s MK-3000, a Fzd4 monotherapy, achieved its primary endpoint in a Phase 2b/3 clinical trial in DME, supporting the therapeutic potential of Wnt pathway activation in retinal vascular disease. The Company believes SZN-8143 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth.

About Surrozen
Surrozen is a biotechnology company, pioneering a new class of Wnt-based therapeutics designed to harness the power of Wnt signaling to treat sight-threatening ophthalmic conditions. Built on deep scientific expertise and a proprietary antibody-engineering platform, Surrozen develops multifunctional biologics that selectively activate Wnt signaling in combination with other key disease pathways. Our approach aims to deliver best-in-class, durable therapies that have the potential to transform patient outcomes in some of the most pressing unmet medical needs in ocular diseases.  For more information, visit www.surrozen.com. 

Forward-Looking Statements 
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, such as the Company’s plan to dose the first patient in the DUET Phase 1b/2a study in DME patients in the fourth quarter of 2026, the availability of data, such as initial data from the DUET study being anticipated in the second half of 2027, Surrozen’s plan to develop SZN-8141 in neovascular age-related macular degeneration, the potential for such product candidates to be used to treat human disease or address unmet needs in serious eye diseases, as well as the potential benefits and potential differentiation from existing therapies of such product candidates, and the anticipated use of proceeds from the second closing of the private placement). These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for its product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2025, and Surrozen’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Investor/Media Contact:
Email: Investorinfo@surrozen.com

Completion of three additional 25 MW data halls brings fully operational capacity at Polaris Forge 1 to 250 MW

DALLAS, Oct. 02, 2026 (GLOBE NEWSWIRE) — Applied Digital (NASDAQ: APLD), a U.S. based designer, developer, owner and operator of large-scale, purpose-built data centers engineered to support high-performance computing (“HPC”) workloads, including artificial intelligence (“AI”), machine learning, and other accelerated-compute applications, today announced it has achieved Ready for Service for the second phase of Building 2 at its Polaris Forge 1 campus, delivering an additional 75 MW of critical IT load across three 25 MW data halls.

The milestone completes Building 2’s full 150 MW of critical IT load and brings fully operational critical IT load at Polaris Forge 1 to 250 MW. The fully leased AI Factory Campus is contracted to deliver 400 MW of critical IT load at full buildout.

“Bringing another 75 MW of AI infrastructure online at Polaris Forge 1 further demonstrates our ability to turn large-scale power into operational AI infrastructure,” said Wes Cummins, Chairman and Chief Executive Officer of Applied Digital. “Securing power is only the starting point. The real work is designing, building, commissioning, and operating the infrastructure that transforms those megawatts into usable capacity for customers. That is the capability we continue to scale across our platform.”

The latest delivery follows the first 100 MW building at Polaris Forge 1 and the initial 75 MW phase of Building 2. With 250 MW now operational, Polaris Forge 1 reflects Applied Digital’s repeatable approach to developing and operating large-scale infrastructure purpose-built for advanced AI and high-performance computing workloads.

Polaris Forge 1 is located in Ellendale, North Dakota, where Applied Digital has operated since 2021 and built long-standing relationships with local leaders, partners, and community stakeholders. As the campus continues to expand, the Company remains focused on responsible development, local partnership, and creating long-term value in the communities where it builds.

About Applied Digital

Applied Digital (Nasdaq: APLD) — named Best Data Center in the Americas 2025 by Datacloud — designs, builds, and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and founded in 2021, the company combines hyperscale expertise, closed-loop cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its AI Factory franchise model.

Learn more at applieddigital.com or follow @APLDdigital on X and LinkedIn.

Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives, and future financing plans. These statements use words, and variations of words, such as “will,” “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “proven,” “deliver,” “outlook,” “expect,” “project” and “predict.” Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding lease agreements and any current or prospective data center campus development; (ii) statements about the high-performance computing (HPC) industry; (iii) statements of company plans and objectives, including the company’s evolving business model, or estimates or predictions of actions by suppliers; (iv) statements of future economic performance; and (v) statements of assumptions underlying other statements and statements about the company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the company’s expectations and projections. These risks, uncertainties, and other factors include, among others: whether or not our customers exercise the renewal options under their leases with us (if not, we will not recognize further revenue from such customer under its respective lease); our ability to complete construction of our data center campuses as planned; the lead time of customer acquisition and leasing decisions and related internal approval processes; changes to artificial intelligence and HPC infrastructure needs and their impact on future plans; costs related to the HPC operations and strategy; our ability to timely deliver any services required in connection with completion of installation under lease agreements; our ability to raise additional capital to fund the ongoing datacenter construction and operations; our ability to obtain financing of datacenter leases and more broadly for our development and general corporate activities; our dependence on principal customers, including our ability to execute and perform our obligations under our leases with key customers; our ability to timely and successfully build new hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; maintenance of third party relationships; and conditions in the debt and equity capital markets. A further list and description of these risks, uncertainties, and other factors can be found in the company’s most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, including in the sections captioned “Forward-Looking Statements” and “Risk Factors,” and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, on the company’s website (www.applieddigital.com) under “Investors,” or on request from the company. Information in this press release is as of the dates and time periods indicated herein, and the company does not undertake to update any of the information contained in these materials, except as required by law.

Media Contact
JSA (Jaymie Scotto & Associates)
(856) 264-7827
jsa_applied@jsa.net

Investor Relations Contacts
Matt Glover or Ralf Esper
Gateway Group, Inc.
(949) 574-3860
APLD@gateway-grp.com

Completion of three additional 25 MW data halls brings fully operational capacity at Polaris Forge 1 to 250 MW

DALLAS, Oct. 02, 2026 (GLOBE NEWSWIRE) — Applied Digital (NASDAQ: APLD), a U.S. based designer, developer, owner and operator of large-scale, purpose-built data centers engineered to support high-performance computing (“HPC”) workloads, including artificial intelligence (“AI”), machine learning, and other accelerated-compute applications, today announced it has achieved Ready for Service for the second phase of Building 2 at its Polaris Forge 1 campus, delivering an additional 75 MW of critical IT load across three 25 MW data halls.

The milestone completes Building 2’s full 150 MW of critical IT load and brings fully operational critical IT load at Polaris Forge 1 to 250 MW. The fully leased AI Factory Campus is contracted to deliver 400 MW of critical IT load at full buildout.

“Bringing another 75 MW of AI infrastructure online at Polaris Forge 1 further demonstrates our ability to turn large-scale power into operational AI infrastructure,” said Wes Cummins, Chairman and Chief Executive Officer of Applied Digital. “Securing power is only the starting point. The real work is designing, building, commissioning, and operating the infrastructure that transforms those megawatts into usable capacity for customers. That is the capability we continue to scale across our platform.”

The latest delivery follows the first 100 MW building at Polaris Forge 1 and the initial 75 MW phase of Building 2. With 250 MW now operational, Polaris Forge 1 reflects Applied Digital’s repeatable approach to developing and operating large-scale infrastructure purpose-built for advanced AI and high-performance computing workloads.

Polaris Forge 1 is located in Ellendale, North Dakota, where Applied Digital has operated since 2021 and built long-standing relationships with local leaders, partners, and community stakeholders. As the campus continues to expand, the Company remains focused on responsible development, local partnership, and creating long-term value in the communities where it builds.

About Applied Digital

Applied Digital (Nasdaq: APLD) — named Best Data Center in the Americas 2025 by Datacloud — designs, builds, and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and founded in 2021, the company combines hyperscale expertise, closed-loop cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its AI Factory franchise model.

Learn more at applieddigital.com or follow @APLDdigital on X and LinkedIn.

Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives, and future financing plans. These statements use words, and variations of words, such as “will,” “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “proven,” “deliver,” “outlook,” “expect,” “project” and “predict.” Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding lease agreements and any current or prospective data center campus development; (ii) statements about the high-performance computing (HPC) industry; (iii) statements of company plans and objectives, including the company’s evolving business model, or estimates or predictions of actions by suppliers; (iv) statements of future economic performance; and (v) statements of assumptions underlying other statements and statements about the company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the company’s expectations and projections. These risks, uncertainties, and other factors include, among others: whether or not our customers exercise the renewal options under their leases with us (if not, we will not recognize further revenue from such customer under its respective lease); our ability to complete construction of our data center campuses as planned; the lead time of customer acquisition and leasing decisions and related internal approval processes; changes to artificial intelligence and HPC infrastructure needs and their impact on future plans; costs related to the HPC operations and strategy; our ability to timely deliver any services required in connection with completion of installation under lease agreements; our ability to raise additional capital to fund the ongoing datacenter construction and operations; our ability to obtain financing of datacenter leases and more broadly for our development and general corporate activities; our dependence on principal customers, including our ability to execute and perform our obligations under our leases with key customers; our ability to timely and successfully build new hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; maintenance of third party relationships; and conditions in the debt and equity capital markets. A further list and description of these risks, uncertainties, and other factors can be found in the company’s most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, including in the sections captioned “Forward-Looking Statements” and “Risk Factors,” and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, on the company’s website (www.applieddigital.com) under “Investors,” or on request from the company. Information in this press release is as of the dates and time periods indicated herein, and the company does not undertake to update any of the information contained in these materials, except as required by law.

Media Contact
JSA (Jaymie Scotto & Associates)
(856) 264-7827
jsa_applied@jsa.net

Investor Relations Contacts
Matt Glover or Ralf Esper
Gateway Group, Inc.
(949) 574-3860
APLD@gateway-grp.com

Capital will be used to eliminate all of its preferred stock and to support business growth

CHARLOTTE, N.C., Oct. 02, 2026 (GLOBE NEWSWIRE) — NN, Inc. (“NN” or the “Company”) (NASDAQ: NNBR), a global leader in precision manufacturing, today announced it has entered into a securities purchase agreement for a private investment in public equity financing (the “PIPE”) that is expected to result in net proceeds of approximately $50 million after deducting placement agent fees and offering expenses. The PIPE is expected to close on or about October 5, 2026, subject to the satisfaction of customary closing conditions.

Capital Raise Overview

Pursuant to the terms of the securities purchase agreement, at the closing of the PIPE, NN will issue an aggregate of 16.1 million shares of common stock (or prefunded warrants in lieu thereof) at a price of $3.30 per share (or $3.29 per pre-funded warrant). Each pre-funded warrant has an exercise price of $0.01 per share of common stock, will be immediately exercisable, subject to certain conditions set forth in each pre-funded warrant, and will not expire.

There are 10 investors making this investment from a mix of both existing shareholders and new shareholders. The investment was significantly over-subscribed and allocations were made across the investor base. The capital raise was enabled by the Company’s recent increase of its authorized common stock achieved via shareholder vote.

Use of Proceeds and Update

Preferred Stock Elimination and Deleverage – NN will use the majority of the net proceeds from this capital raise for the final redemption and complete elimination of the Company’s remaining Series D Preferred Stock held by investment funds managed by Morgan Stanley Tactical Value funds. This preferred stock arrangement was entered into over 5 years ago. With this anticipated action, NN will have eliminated all of its dilutive equity securities in the last 3 months. Additionally, the Company has now achieved a cashflow balance for servicing its debt on an on-going basis and lowered its leverage on a pro-forma basis.

Fund Existing Business Growth and Next-Gen Sales Expansion – NN will use the remainder of the net proceeds to fund the Company’s growth both current growth and future growth. NN is successfully growing and expanding its business consistent with its 5 Pillar growth strategy. The growth investment takes two forms – capital expenditures for new equipment for future sales and working capital for increasing current sales.

Q3 Update – Q3 2026 was another high sales growth quarter for NN and sales were at the highest levels in the last 8 years. New business awards are at the highest levels ever. The company has secured approximately $130 million of annual new business over the last 12 months. Additionally, after successfully launching a brand-new product line this year in liquid cooling connectors, the company is readying its entry into another brand-new product area – cable assemblies – with a new plant startup in Mexico. This new product line will further enable the company to aggressively grow sales in data center, grid, medical, defense & electronics, and high value vehicle.

Harold Bevis, President and CEO of NN, commented, “NN has transformed its financial profile during 2026 with strong operating performance and several capital markets actions. The Company is moving along its multi-year path. This PIPE transaction completes a significant step in our balance sheet evolution. We are eliminating the Series D preferred stock with this action and setting the Company up for its next phase of growth and common stock value increases. We have a great set of investors now and together we are committed to breakthrough, exceptional performance. Next up for NN is to refinance its high-cost Term Loan. We believe we can achieve a strong multi-million dollar cash interest reduction and further increase value for our common stock holders.”

“NN’s key target markets of Data Center, Defense & Electronics, and Medical Products are strong and we are expanding our presence in them. Through the end of September, we secured approximately $130 million of new business over the last 12 months. Our business development team is prospecting and winning new business big-time. We have won over 200 programs this year and the year is not over. Importantly, we are in full-scale launch mode to bring these new wins online and into our sales streams to further boost our sales. Our best days are before us.”

“We would like to thank our banking team, legal advisers and investors for their active leadership completing this PIPE. Lake Street Capital Markets, LLC acted as the sole placement agent for the PIPE. Dentons US LLP served as sole legal counsel to NN for the PIPE. Faegre Drinker served as counsel to the placement agent. Alpha IR served as investor relations and public communications lead for NN.”

The securities being issued and sold in the PIPE have not been registered under the Securities Act of 1933, as amended (the “Securities Act”). Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. Concurrently with the execution of the securities purchase agreement, NN and the investors named therein entered into a registration rights agreement pursuant to which NN has agreed to file a registration statement with the U.S. Securities and Exchange Commission (“SEC”) registering the resale of the shares of common stock.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About NN, Inc.

NN, Inc. (NASDAQ: NNBR) is an entrepreneurial manufacturing company specializing in manufacturing micron-toleranced precision metal componentry for high-growth end markets, especially Data Center, Electric Grid, Medical, Defense, and High-Value Vehicle systems. Founded in 1980, NN serves over 700 customers on 4 continents through its 2,550 person workforce operating out of 27 global plants. This footprint enables rapid innovation and global scaled solutions. For more information, visit nninc.com.

Forward Looking Statements

This press release may contain forward-looking statements regarding our business, operations, and financial performance. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our most recently filed Form 10-K and our Form 10-Q for the period following that Form 10-K, including the risk factors described therein. We undertake no obligation to update any forward-looking statement, except as required by law. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements.

Investor Relations: 
Joe Caminiti
NNBR@alpha-ir.com  
312-445-2870