logo
Share SHARE
FONT-SIZE Plus   Neg

New Mountain Finance Prices Offering Of 6.00 Mln Shares At $14.34/shr

New Mountain Finance Corp.(NMFC) announced Friday that it has priced an underwritten primary offering of 3.00 million shares of its common stock and a concurrent underwritten secondary offering of 3.00 million shares of its common stock on behalf of a selling stockholder, New Mountain Finance AIV Holdings Corporation at a public offering price of $14.34 per share.

The closing of the offering is subject to customary closing conditions and is expected to take place on October 17, 2013.

In connection with the offering, AIV Holdings has granted 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 that it will not receive any proceeds from the sale of shares of the Company's common stock sold by AIV Holdings.

The company noted that it intends to use the net proceeds from the primary offering of 3.00 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 in accordance with its investment objective and strategies.

New Mountain Finance Holdings, L.L.C. may also use a portion of such net proceeds for other general corporate purposes, including to temporarily repay indebtedness (which will be subject to reborrowing), and other working capital needs.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Activision Blizzard reported a better-than-expected increase in second-quarter profit, as the video game publisher saw robust growth in digital channels, penetration in China and improved margins. It lifted its guidance for 2015, sending its shares up... Diversified media and entertainment conglomerate Walt Disney Co. said Tuesday after the markets closed that its third quarter profit rose 11% from last year, driven mainly by strong earnings growth at its film and consumer products divisions. The company's quarterly earnings per share came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock.
comments powered by Disqus
Follow RTT