New Mountain Finance Corp. Enters Definitive Agreement
Ticker: NMFCZ · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1496099
| Field | Detail |
|---|---|
| Company | New Mountain Finance Corp (NMFCZ) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $250.0 million, $400.0 million, $258.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, agreement, financials
Related Tickers: NMFC
TL;DR
NMFC inked a deal for its 8.25% notes due 2028.
AI Summary
On June 27, 2024, New Mountain Finance Corp. entered into a material definitive agreement related to its Eight and One-Quarter Percent Notes due 2028. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates a significant contractual development for New Mountain Finance Corp. concerning its outstanding debt obligations.
Risk Assessment
Risk Level: low — The filing reports on a standard material definitive agreement and financial exhibits, which are routine disclosures.
Key Numbers
- 8.25% — Interest Rate (Interest rate on the notes due 2028)
- 2028 — Maturity Year (Maturity year for the notes)
Key Players & Entities
- New Mountain Finance Corp. (company) — Registrant
- Eight and One-Quarter Percent Notes due 2028 (dollar_amount) — Debt Instrument
- June 27, 2024 (date) — Report Date
FAQ
What is the nature of the material definitive agreement entered into by New Mountain Finance Corp. on June 27, 2024?
The filing indicates the agreement is related to its Eight and One-Quarter Percent Notes due 2028.
What is the specific ticker symbol for New Mountain Finance Corp?
The filing does not explicitly state the ticker symbol, but it is commonly known as NMFC.
In which state was New Mountain Finance Corp. incorporated?
New Mountain Finance Corp. was incorporated in Delaware.
What is the principal executive office address for New Mountain Finance Corp?
The principal executive office is located at 1633 Broadway, 48th Floor, New York, New York 10019.
What is the IRS Employer Identification Number for New Mountain Finance Corp?
The IRS Employer Identification Number is 27-2978010.
Filing Stats: 930 words · 4 min read · ~3 pages · Grade level 10.7 · Accepted 2024-06-27 09:27:26
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share NMFC NASDAQ Global Select Mar
- $250.0 million — to be sold through the ATM Program from $250.0 million to $400.0 million. Under the Equity Dis
- $400.0 million — the ATM Program from $250.0 million to $400.0 million. Under the Equity Distribution Agreemen
- $258.0 million — s of June 27, 2024, up to approximately $258.0 million in aggregate amount of the Shares remai
Filing Documents
- nmfc-20240627.htm (8-K) — 34KB
- exhibit51-8xkjune272024.htm (EX-5.1) — 20KB
- exhibit101-8xkjune272024.htm (EX-10.1) — 23KB
- image_0.jpg (GRAPHIC) — 67KB
- image_1.jpg (GRAPHIC) — 45KB
- 0001628280-24-030253.txt ( ) — 402KB
- nmfc-20240627.xsd (EX-101.SCH) — 3KB
- nmfc-20240627_def.xml (EX-101.DEF) — 15KB
- nmfc-20240627_lab.xml (EX-101.LAB) — 27KB
- nmfc-20240627_pre.xml (EX-101.PRE) — 16KB
- nmfc-20240627_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On November 3, 2021, New Mountain Finance Corporation (the "Company") established an "at-the-market" offering (the "ATM Program") through which the Company may sell, from time to time through sales agents, shares of the Company's common stock, par value $0.01 per share (the "Shares"). On June 27, 2024, the Company entered into a third amendment (the "Third Amendment") to the equity distribution agreement, dated November 3, 2021, as amended on May 18, 2023 and August 23, 2023 (the "Equity Distribution Agreement") with B. Riley Securities, Inc. ("B. Riley") and Raymond James & Associates, Inc. ("Raymond James" and, together with B. Riley, the "Sales Agents"). The Third Amendment was entered into by and between the Company and the Sales Agents in order to (i) reflect the migration of the ATM Program to the Company's shelf registration statement on Form N-2 (File No. 333-280501) (the "Registration Statement"), which became effective as of June 26, 2024, from the Company's previous shelf registration statement on Form N-2 (File No. 333-272060); and (ii) increase the maximum amount of Shares to be sold through the ATM Program from $250.0 million to $400.0 million. Under the Equity Distribution Agreement, as amended by the Third Amendment, the Company may, but has no obligation to, issue and sell up to $400.0 million in aggregate amount of Shares in the ATM Program, from time to time through Sales Agents, or to them, as principal for their own account. As of June 27, 2024, up to approximately $258.0 million in aggregate amount of the Shares remained available for sale under the ATM Program. Further details regarding the Equity Distribution Agreement, as amended by the Third Amendment, and the ATM Program are set forth in the Company's prospectus supplement, dated June 27, 2024 (the "ATM Prospectus Supplement") and the accompanying prospectus, dated June 26, 2024 (together with the ATM Prospectus Supplement, the "Pro
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit No. 5.1 Opinion of Eversheds Sutherland (US) LLP 10.1 Amendment No.3, dated June 27, 2024, to Equity Distribution Agreement, dated November 3, 2021, between New Mountain Finance Corporation and B. Riley Securities, Inc. and Raymond James & Associates, Inc. 23.1 Consent of Eversheds Sutherland (US) LLP (contained in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. New Mountain Finance Corporation By: /s/ Joseph W. Hartswell Name: Joseph W. Hartswell Title: Chief Compliance Officer and Corporate Secretary Date: June 27, 2024