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New Mountain Finance prices common stock offering

New Mountain Finance Corp. priced an underwritten offering of 5 million common shares at a public offering price of $14.60 per share.

The company also granted the underwriters an option to purchase up to an additional 750,000 shares.

The offering is subject to closing conditions and is expected to close April 7.

New Mountain plans to use the net proceeds from the offering primarily for new investments in portfolio companies. It may also use a part of the proceeds for other general corporate purposes, including to temporarily repay debt, and other working capital needs.

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