New Mountain Finance Corporation Announces $14.80 per Share Pricing For its 3.25M Share Public Offering
New Mountain Finance Corporation (NYSE: NMFC) announced today that it has priced a public offering of 3,250,000 shares of its common stock at a public offering price of $14.80 per share for total gross proceeds of $48.1 million. The closing of the offering is subject to customary closing conditions and is expected to take place on December 7, 2012. In connection with the offering, the Company has granted the underwriters for the offering an option to purchase up to an additional 487,500 shares of common stock.
The Company intends to use the net proceeds from this offering 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 the net proceeds for other general corporate purposes, including to temporarily repay indebtedness (which will be subject to reborrowing), and other working capital needs.
The joint-lead book-running managers for the offering are Goldman, Sachs & Co. and Wells Fargo Securities, LLC. The co-lead managers for the offering are RBC Capital Markets, LLC and Stifel, Nicolaus & Company, Incorporated.
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