Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
New Mountain Finance Corporation
Baird served as a co-manager in this offering
New Mountain Finance Corporation (NYSE: NMFC) (“New Mountain” or the “Company”) recently completed a follow-on offering of 5,250,000 shares of its common stock at a price of $14.35 per share, generating gross proceeds of approximately $75.3 million. The Company intends to use the net proceeds from this offering to acquire common membership units from New Mountain Finance Holdings, L.L.C. New Mountain Finance Holdings, L.L.C., in turn, intends to use the remaining net proceeds for new investments in portfolio companies in accordance with its investment objective and strategies, the temporary repayment of indebtedness (which will be subject to reborrowing), to pay the Company’s operating expenses and distributions to its members and for general corporate purposes.
New Mountain Finance Corporation is a closed-end, non-diversified and externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. New Mountain Finance Holdings, L.L.C.’s investment objective is to generate current income and capital appreciation through investments in debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. In some cases, investments may include equity interests.