New Mountain Finance Corp. has completed an underwritten offering of 5 million common shares at a public offering price of $14.60 per share.
The company has granted the underwriters a 30-day option to buy up to an additional 750,000 shares.
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 were the joint lead book-running managers for the offering. Robert W. Baird & Co. Inc. was the lead manager, and Janney Montgomery Scott LLC and Oppenheimer & Co. Inc. were the co-managers.