Goldman, Sachs, Wells Fargo, Morgan Stanley and Robert W. Baird assist
By Devika Patel
Knoxville, Tenn., June 18 - New Mountain Finance Corp. said it priced a $58.2 million public offering of stock with a $13.1 million greenshoe. The offering was announced Monday.
The company will sell 4 million common shares at $14.55 per share. The price per share reflects a 2.15% discount to the June 17 closing share price of $14.87.
Goldman, Sachs & Co., Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the joint lead bookrunning managers.
Settlement is expected June 21.
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 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: | $58.2 million
|
| Greenshoe: | $13,095,000
|
| Shares: | 4 million
|
| Price: | $14.55
|
| 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.
|
| Announcement date: | June 17
|
| Pricing date: | June 18
|
| Settlement date: | June 21
|
| Stock symbol: | NYSE: NMFC
|
| Stock price: | $14.87 at close June 17
|
| Market capitalization: | $449.81 million
|
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