Investment company New Mountain Finance Corp. (NMFC) said Monday it has commenced an underwritten primary offering of 2 million shares of its common stock and a concurrent underwritten secondary offering of 4 million shares of its common stock on behalf of a selling stockholder, New Mountain Finance AIV Holdings Corp.
In connection with the proposed offering, AIV Holdings intends to grant the underwriters for the offering an option to purchase up to an additional 900,000 shares of the company's common stock.
The company said it will not receive any proceeds from the sale of shares of its common stock sold by AIV Holdings. The company intends to use the net proceeds from the primary offering of 2 million shares of its common stock to acquire common membership units from New Mountain Finance Holdings L.L.C, which in turn, intends to use the net proceeds primarily for new investments in portfolio companies.
New Mountain Finance Holdings L.L.C. may also use a portion of such net proceeds for other general corporate purposes.
The joint-lead book-running managers for the offering are Goldman, Sachs & Co., Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC.
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