New Mountain Finance Corporation (the "Company") (NYSE:NMFC) announced today that it has commenced an underwritten offering of 3,500,000 shares of its common stock. In connection with the proposed offering, the Company intends to grant the underwriters for the offering an option to purchase up to an additional 525,000 shares of the Company's common stock. - updated 4/10 - New Mountain Finance Corporation (the "Company") (NYSE:NMFC) announced today that it has priced an underwritten offering of 3,500,000 shares of its common stock resulting in net proceeds exclusive of offering expenses to the Company of approximately $51.0 million, or $14.57 per share, which is consistent with the Company's obligation under the Investment Company Act of 1940 to raise such net proceeds at or above book value. The closing of the offering is subject to customary closing conditions and is expected to take place on April 15, 2014. In connection with the offering, the Company has granted the underwriters for the offering an option to purchase up to an additional 525,000 shares of the Company's common stock.
New Mountain Finance is a holding company. Through its operating company, New Mountain Finance Holdings, L.L.C. (the Operating Company), Co. 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. The Operating Company's investments may also include equity interests such as preferred stock, common stock, warrants or options received in connection with the Operating Company's debt investments or may include a direct investment in the equity of private companies.
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