New Mountain Finance (NMFC) Prices 5M Share Stock Offering for Proceeds of ~$67.5M

October 25, 2016 8:38 AM EDT

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New Mountain Finance Corporation (NYSE: NMFC) announced that it has priced an underwritten offering of 5,000,000 shares of its common stock at a public offering price of $13.50 per share. The Company’s investment adviser, New Mountain Finance Advisers BDC, L.L.C. (the “Adviser”), has agreed to bear the sales load payable to the underwriters. In addition, the Adviser has agreed to pay the underwriters an additional supplemental payment of $0.25 per share, which reflects the difference between the actual public offering price of $13.50 per share and the net proceeds of $13.75 per share received by the Company in this offering. The closing of the offering is subject to customary closing conditions and is expected to take place on October 28, 2016. In connection with the offering, the Company has granted the underwriters for the offering an option to purchase up to an additional 750,000 shares of the Company’s common stock.

The Company intends to use the net proceeds from the offering primarily for new investments in portfolio companies in accordance with its investment objective and strategies. The Company may also use a portion of such net proceeds for other general corporate purposes, including to temporarily repay indebtedness (which will be subject to re-borrowing), and other working capital needs.

The joint-lead book-running managers for the offering are Wells Fargo Securities, LLC, Goldman, Sachs & Co., Morgan Stanley & Co. LLC and Keefe, Bruyette & Woods, A Stifel Company. The lead manager for the offering is Robert W. Baird & Co. Incorporated. The co-managers are Janney Montgomery Scott LLC and Oppenheimer & Co. Inc.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated October 24, 2016, and accompanying prospectus, dated October 7, 2016, each of which has been filed with the Securities and Exchange Commission, contain a description of these matters and other important information about the Company and should be read carefully before investing.



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