Goldman Sachs, Wells Fargo Securities, Morgan Stanley are assisting
By Devika Patel
Knoxville, Tenn., March 20 - New Mountain Finance Corp. said it priced a $28.6 million public offering of stock. The offering was announced Tuesday.
The company will sell 2 million common shares at $14.30 per share. The price per share reflects a 2.32% discount to the March 19 closing share price of $14.64.
Goldman Sachs & Co., Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the joint-lead bookrunning managers.
Settlement is expected March 25.
Proceeds will be used to acquire common membership units from New Mountain Finance Holdings, LLC, which in turn, intends to use the proceeds for new investments in portfolio companies and other general corporate purposes.
New Mountain is a New York investment company.
| Issuer: | New Mountain Finance Corp.
|
| Issue: | Common stock
|
| Amount: | $28.6 million
|
| Shares: | 2 million
|
| Price: | $14.30
|
| Warrants: | No
|
| Bookrunners: | Goldman Sachs & Co., Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC
|
| Co-lead managers: | Robert W. Baird & Co. Inc. and Keefe, Bruyette & Woods, Inc.
|
| Co-managers: | BB&T Capital Markets, Janney Montgomery Scott LLC and Oppenheimer & Co. Inc.
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| Announcement date: | March 19
|
| Pricing date: | March 20
|
| Settlement date: | March 25
|
| Stock symbol: | NYSE: NMFC
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| Stock price: | $14.64 at close March 19
|
| Market capitalization: | $345.12 million
|
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