July 16, 2024

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New Mountain Finance Company Extends Share Repurchase Program

4 min read
New Mountain Finance Company Extends Share Repurchase Program
New Mountain Finance Company Extends Share Repurchase Program

New Mountain Finance Corporation Extends Share Repurchase Software

New Mountain Finance Corporation (NASDAQ: NMFC) (“NMFC” or “the Company”) currently declared that its board of administrators has authorized an extension of a software for the objective of repurchasing up to $50 million worth of its widespread inventory, to be implemented at the discretion of NMFC’s administration staff. Underneath the repurchase plan, NMFC may possibly, but is not obligated to, repurchase its exceptional prevalent inventory in the open industry from time to time provided that NMFC complies with the prohibitions under its Code of Ethics and the tips specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended, which include sure rate, industry quantity and timing constraints. Unless further prolonged by NMFC’s board of administrators, the Firm expects the repurchase software to be in location right up until the before of December 31, 2021 or till $50 million worthy of of NMFC’s outstanding shares of common stock have been repurchased. To day, approximately $2.9 million truly worth of repurchases have been manufactured by the Company below the repurchase plan.

The Company’s board of administrators approved the extension of the repurchase program for the reason that it believes that sustained market volatility and uncertainty may well lead to NMFC’s popular stock to be undervalued from time to time. The timing and selection of shares to be repurchased will depend on a quantity of variables, such as market place disorders and choice investment decision possibilities. In addition, any subsequent repurchases will also be done in accordance with the Investment decision Company Act of 1940, as amended. There are no assurances that the Company will engage in extra repurchases, but if marketplace ailments warrant, the Organization now has an extended time period of time to consider gain of predicaments exactly where NMFC’s management believes share repurchases would be beneficial to the Firm and to its shareholders.


New Mountain Finance Corporation is a closed-close, non-diversified and externally managed financial commitment company that has elected to be regulated as a organization improvement corporation below the Financial commitment Organization Act of 1940, as amended. The Company’s investment goal is to deliver recent cash flow and funds appreciation by means of the sourcing and origination of personal debt securities at all concentrations of the capital framework, which includes 1st and 2nd lien credit card debt, notes, bonds and mezzanine securities. The Company’s to start with lien personal debt may incorporate conventional first lien senior secured loans or unitranche financial loans. Unitranche loans incorporate traits of common initially lien senior secured financial loans as well as 2nd lien and subordinated loans. Unitranche financial loans will expose the Firm to the challenges linked with next lien and subordinated financial loans to the extent it invests in the “last out” tranche. In some instances, the investments may also consist of smaller equity pursuits. The Company’s expenditure actions are managed by its Expenditure Adviser, New Mountain Finance Advisers BDC, L.L.C., which is an financial investment adviser registered less than the Expenditure Advisers Act of 1940, as amended. A lot more information and facts about New Mountain Finance Company can be found on the Company’s web page at http://www.newmountainfinance.com.


New Mountain Capital is a New York-based mostly investment decision business that emphasizes business enterprise building and development, somewhat than financial debt, as it pursues extensive-term capital appreciation. The organization at the moment manages private fairness, community fairness, and credit history cash with in excess of $28 billion in belongings underneath administration. New Mountain seeks out what it believes to be the highest excellent expansion leaders in meticulously chosen industry sectors and then performs intensively with administration to construct the worth of these organizations. For much more facts on New Mountain Money, make sure you pay a visit to http://www.newmountaincapital.com.

Forward-Seeking STATEMENTS

Statements bundled herein may perhaps include “forward-on the lookout statements”, which relate to our foreseeable future functions, potential effectiveness or our economic situation. Forward-wanting statements are not guarantees of future functionality, situation or final results and entail a quantity of challenges and uncertainties, such as the affect of COVID-19 and connected improvements in foundation fascination costs and considerable volatility on our company, portfolio corporations, our sector and the global economic system. Actual effects and outcomes might vary materially from people predicted in the forward-on the lookout statements as a end result of a wide range of variables, which include those explained from time to time in our filings with the Securities and Exchange Fee or components that are past our control. New Mountain Finance Company undertakes no obligation to publicly update or revise any forward-on the lookout statements created herein, except as may well be expected by legislation. All forward-wanting statements converse only as of the time of this press launch.

New Mountain Finance Company

Investor Relations

Shiraz Y. Kajee, Authorized Agent

[email protected]

(212) 220-3505

Check out supply edition on businesswire.com: https://www.businesswire.com/news/house/20210104005776/en/

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