NMFC Buyback

New Mountain Finance Corporation Buyback

OLI recorded this information on 12/13/2023

Company:

New Mountain Finance Corporation

Buyback:

NMFC buyback

$Amount Authorized:

$50,000,000

Buyback Details:

New Mountain Finance Corporation (NASDAQ:NMFC) ("NMFC" or "the Company") today announced that on December 8, 2023, its board of directors declared a special distribution of the Company's excess undistributed taxable income. The special distribution will be in the amount of $0.10 per share payable on December 29, 2023 to shareholders of record as of December 22, 2023. The special distribution is driven primarily from the gain realized on our investment in Haven Midstream Holdings LLC, which, due to unique circumstances, was treated as taxable ordinary income. Regulated investment company rules require distribution of at least 90% of annual ordinary taxable income. This special distribution is being made to enable NMFC to comply with this requirement. In addition, the Company's board of directors authorized an extension of a previously established stock repurchase program (the "Repurchase Program"). Pursuant to the Repurchase Program, the Company can repurchase up to $50 million worth of its common stock at the discretion of NMFC's management team. The Repurchase Program was set to expire on December 31, 2023, but the Company's board of directors elected to extend the Repurchase Program through December 31, 2024. Under the Repurchase Program, NMFC may, but is not obligated to, repurchase its outstanding common stock in the open market from time to time provided that NMFC complies with the prohibitions under its Code of Ethics and the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended, including certain price, market volume and timing constraints. Unless further extended by NMFC's board of directors, the Company expects the Repurchase Program to be in place until the earlier of December 31, 2024 or until $50 million worth of NMFC's outstanding shares of common stock have been repurchased. To date, approximately $2.9 million worth of repurchases have been made by the Company under the Repurchase Program.

New Mountain Finance is a closed-end, non-diversified management investment company that is engaged in the sourcing and origination of debt securities at various levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. In some cases, Co.'s investments may also include equity interests. Co. makes investments through both primary originations and open-market secondary purchases.

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NMFC — Key Stats (updated 8 hours, 37 minutes ago)

Company Name:	New Mountain Finance Corp
Stock buyback:	NMFC buyback
Website:	www.newmountainfinance.com
Sector:	Investment Companies & Venture Capital
Number of ETFs Holding NMFC:	4
Total Market Value Held by ETFs:	$16.60M
Total Market Capitalization:	$1.31B
% of Market Cap. Held by ETFs:	1.27%

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New Mountain Finance Corporation Buyback

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