New Mountain Finance Stock Price, News & Analysis

New Mountain Finance Corporation (NASDAQ: NMFC) has announced the pricing of an additional $60 million in 7.50% convertible notes due 2025. These notes are being offered at 100.5% of their principal amount and will be fungible with existing notes worth $200 million issued in November 2022. The total amount of convertible notes will be $260 million. The conversion rate is set at 70.5365 shares per $1,000 face value, equating to a conversion price of approximately $14.18 per share, reflecting a 12.5% premium over the last stock price of $12.60. Proceeds will be used to repay debt and for corporate purposes. Oppenheimer & Co. Inc. is the placement agent.

New Mountain Finance Corporation (NASDAQ: NMFC) reported an adjusted net investment income of $0.35 per share for Q4 2022, a decrease compared to $0.31 from the previous year. The net asset value (NAV) per share fell to $13.02 from $13.20. The company declared a first-quarter distribution of $0.32 per share, payable on March 31, 2023. Total investment income for 2022 reached $293.4 million, up from $269.6 million in 2021, while total net expenses increased to $174.9 million. The board introduced a supplemental dividend program to enhance shareholder returns. Additionally, the company remains focused on maintaining portfolio credit quality amidst economic challenges.

New Mountain Finance Corporation (NASDAQ: NMFC) will release its financial results for the fourth quarter and year ended December 31, 2022, on February 27, 2023, after market close. An earnings conference call is scheduled for February 28, 2023, at 10:00 am ET, where company officials will discuss the results and answer questions. Interested participants can join via a provided dial-in or webcast link. A replay of the call will be available until February 28, 2024.

New Mountain Finance Corporation (NASDAQ: NMFC) has authorized an extension of its stock repurchase program until December 31, 2023, allowing for the repurchase of up to $50 million of common stock. Approximately $2.9 million has been repurchased to date. The board believes that ongoing market volatility may undervalue NMFC's shares, thus the extension provides an opportunity for management to enhance shareholder value through strategic repurchases in response to market conditions.

New Mountain Finance Corporation (NASDAQ: NMFC) reported a net investment income (NII) of $0.32 per share for Q3 2022, marking a slight increase from $0.31 in Q3 2021. The company's net asset value (NAV) decreased to $13.20 per share from $13.42 in Q2 2022. NMFC declared a 7% increase in the fourth-quarter distribution to $0.32 per share, payable on December 30, 2022. Total investment income for Q3 was $78.1 million, compared to $68.1 million in the prior year. The company's portfolio continues to focus on 'defensive growth' industries, with 92% of assets rated as low risk.

New Mountain Finance Corporation (NASDAQ: NMFC) has completed a $200 million offering of 7.50% convertible notes due 2025. The offering aims to address debt maturities with unsecured term financing while enhancing the company’s capital base. The initial conversion price is set at approximately $14.20 per share, reflecting a 14.7% premium over the last noted share price of $12.38. Proceeds will be used for a tender offer on existing 5.75% convertible notes and to repay other debts.

New Mountain Finance Corporation (NASDAQ: NMFC) has priced $200.0 million in 7.50% convertible notes due 2025. The offering's closing is anticipated on November 2, 2022. The Notes are convertible at an initial price of approximately $14.20 per share, reflecting a 14.7% premium over the last share price of $12.38 on October 27, 2022. Proceeds are intended for a tender offer for existing notes and general corporate purposes. Preliminary Q3 estimates show a net asset value of $13.15 to $13.25 per share.

New Mountain Finance Corporation (NASDAQ: NMFC) will release its financial results for the quarter ended September 30, 2022, on November 8, 2022, after market close. An earnings conference call is scheduled for November 9, 2022, at 10:00 am ET, where the Company will discuss third-quarter performance and recent events. The call is open to participants via dial-in or audio webcast. New Mountain focuses on generating income and capital appreciation through various debt securities, including first and second lien debt.

New Mountain Finance Corporation (NASDAQ: NMFC) will release its financial results for Q3 2022 on November 7, 2022, after market close. An earnings conference call is scheduled for November 8, 2022, at 10:00 AM ET, where company officers will discuss performance, recent events, and hold a Q&A session. New Mountain focuses on generating income and capital appreciation through investments in debt securities and has adopted a business development company structure under the Investment Company Act of 1940.