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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 RTTNews Staff Writer

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