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
Cable-cutters have now one more reason to do so as live television streaming will be available on YouTube TV in 14 more markets in the U.S. Facebook Chief Operating Officer Sheryl Sandberg has donated nearly $100 million in Facebook shares to charity. This is her second charitable donation within a year. A document was filed on Thursday with the Security and Exchange Commission, which shows that Sandberg transferred shares to a special fund she uses for charitable donations. Ford Motor Co.'s new CEO Jim Hackett has taken a more cautious approach to the automaker's plans for rolling out autonomous vehicles. Ford is currently undertaking a 100-day review of its operations and Hackett indicated at delays to the company's plans to launch a fully-autonomous vehicle by 2021.
comments powered by Disqus
Follow RTT