Funds used for new investments in portfolio companies, working capital
By Devika Patel
Knoxville, Tenn., Oct. 11 - New Mountain Finance Corp. said it priced a $43.02 million public offering of stock. The offering was announced Thursday.
The company will sell 3 million common shares at $14.34 per share. The price per share reflects a 2.05% discount to the Oct. 10 closing share price of $14.64.
New Mountain Finance AIV Holdings Corp. will offer an additional 3 million shares at the same price with a $12.91 million greenshoe, but the company won't receive the proceeds.
Settlement is expected Oct. 17.
Goldman Sachs & Co., Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the joint lead bookrunning managers.
Proceeds will be used for new investments in portfolio companies and for other general corporate purposes, including debt repayment and other working capital needs.
New Mountain is a New York investment company.
| Issuer: | New Mountain Finance Corp.
|
| Issue: | Common stock
|
| Amount: | $43.02 million
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| Shares: | 3 million
|
| Price: | $14.34
|
| Warrants: | No
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| Bookrunners: | Goldman Sachs & Co., Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC (joint leads)
|
| Co-lead managers: | Robert W. Baird & Co. Inc. and Keefe, Bruyette & Woods, Inc.
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| Co-managers: | BB&T Capital Markets, Janney Montgomery Scott LLC and Oppenheimer & Co. Inc.
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| Announcement date: | Oct. 10
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 17
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| Stock symbol: | NYSE: NMFC
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| Stock price: | $14.64 at close Oct. 10
|
| Market capitalization: | $540.94 million
|
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