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: Quote) 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
BlackRock (BLK) said its iShares division has launched the iShares Short Maturity Municipal Bond ETF (MEAR). The move by iShares, the world's largest manager of exchange traded funds, is part of efforts to boost its lineup of fixed income ETFs. iShares Short Maturity Municipal Bond ETF is actively... The drought crisis in California will not abate any time soon despite the onset of a somewhat weak El Nino, endangering crops and putting farmers and others to hardship. German auto giant BMW has refuted reports it is in discussion with tech giant Apple Inc. (AAPL) related to the making of an electric car. BMW has clarified that its discussion with Apple was not related to building an electric car but were "regular talks," according to a report from Reuters. On...
comments powered by Disqus
Follow RTT