New Mountain Finance Corporation Announces the Extension of its Stock Repurchase Program
New Mountain Finance (NASDAQ: NMFC) announced the extension of its stock repurchase program through December 31, 2025. The program allows the company to repurchase up to $50 million worth of common stock at management's discretion. To date, approximately $2.9 million in repurchases have been made. The board authorized the extension due to potential market volatility that could cause stock undervaluation. Repurchases must comply with the company's Code of Ethics, Rule 10b-18 guidelines, and the Investment Company Act of 1940. The program will continue until either the end date or the full amount is repurchased.
New Mountain Finance (NASDAQ: NMFC) ha annunciato l'estensione del suo programma di riacquisto azionario fino al 31 dicembre 2025. Il programma consente all'azienda di riacquistare fino a 50 milioni di dollari di azioni ordinarie a discrezione della direzione. Ad oggi, sono stati effettuati riacquisti per circa 2,9 milioni di dollari. Il consiglio ha autorizzato l'estensione a causa della potenziale volatilità del mercato che potrebbe causare una sottovalutazione delle azioni. I riacquisti devono rispettare il Codice Etico dell'azienda, le linee guida della Regola 10b-18 e l'Investment Company Act del 1940. Il programma continuerà fino alla data di scadenza o fino a quando l'importo totale sarà riacquistato.
New Mountain Finance (NASDAQ: NMFC) anunció la extensión de su programa de recompra de acciones hasta el 31 de diciembre de 2025. El programa permite a la empresa recomprar hasta 50 millones de dólares en acciones ordinarias a discreción de la gerencia. Hasta la fecha, se han realizado recompras por aproximadamente 2.9 millones de dólares. La junta autorizó la extensión debido a la posible volatilidad del mercado que podría causar una subvaloración de las acciones. Las recompras deben cumplir con el Código de Ética de la empresa, las pautas de la Regla 10b-18 y la Ley de Compañías de Inversión de 1940. El programa continuará hasta la fecha de finalización o hasta que se reembolse el monto total.
뉴 마운틴 파이낸스(NASDAQ: NMFC)는 주식 재매입 프로그램을 2025년 12월 31일까지 연장한다고 발표했습니다. 이 프로그램은 회사가 경영진의 재량에 따라 최대 5천만 달러의 보통주를 재매입할 수 있도록 허용합니다. 현재까지 약 290만 달러의 재매입이 이루어졌습니다. 이사회는 주식이 저평가될 수 있는 잠재적인 시장 변동성 때문에 연장을 승인했습니다. 재매입은 회사의 윤리 강령, 규칙 10b-18 지침 및 1940년 투자 회사법을 준수해야 합니다. 프로그램은 종료일 또는 총 금액이 재매입될 때까지 계속됩니다.
New Mountain Finance (NASDAQ: NMFC) a annoncé l'extension de son programme de rachat d'actions jusqu'au 31 décembre 2025. Ce programme permet à l'entreprise de racheter jusqu'à 50 millions de dollars d'actions ordinaires à la discrétion de la direction. À ce jour, environ 2,9 millions de dollars de rachats ont été effectués. Le conseil a autorisé l'extension en raison de la volatilité potentielle du marché qui pourrait entraîner une sous-évaluation des actions. Les rachats doivent être conformes au Code d'Éthique de l'entreprise, aux directives de la règle 10b-18 et à la Loi sur les Sociétés d'Investissement de 1940. Le programme se poursuivra jusqu'à la date de fin ou jusqu'à ce que le montant total soit racheté.
New Mountain Finance (NASDAQ: NMFC) hat die Verlängerung seines Aktienrückkaufprogramms bis zum 31. Dezember 2025 angekündigt. Das Programm ermöglicht es dem Unternehmen, bis zu 50 Millionen Dollar an Stammaktien nach Ermessen der Geschäftsführung zurückzukaufen. Bis heute wurden Rückkäufe im Wert von etwa 2,9 Millionen Dollar durchgeführt. Der Vorstand genehmigte die Verlängerung aufgrund möglicher Marktvolatilität, die zu einer Unterbewertung der Aktien führen könnte. Die Rückkäufe müssen den Ethikrichtlinien des Unternehmens, den Richtlinien der Regel 10b-18 und dem Investment Company Act von 1940 entsprechen. Das Programm wird bis zum Enddatum oder bis zum vollständigen Rückkauf des Betrags fortgeführt.
- Authorization to repurchase up to $50 million in common stock
- Extension of repurchase program through December 31, 2025
- Potential to take advantage of stock undervaluation scenarios
- $2.9 million already repurchased under the program
- No obligation to execute share repurchases
- Program subject to various regulatory constraints and limitations
Insights
The Company’s board of directors authorized the extension of the Repurchase Program because it believes that sustained market volatility and uncertainty may cause NMFC’s common stock to be undervalued from time to time. The timing and number of shares to be repurchased will depend on a number of factors, including market conditions and alternative investment opportunities. In addition, any subsequent repurchases will also be conducted in accordance with the Investment Company Act of 1940, as amended. There are no assurances that the Company will engage in additional repurchases, but if market conditions warrant, the Company now has an extended period of time to take advantage of situations where NMFC’s management believes share repurchases would be advantageous to the Company and to its shareholders.
ABOUT NEW MOUNTAIN FINANCE CORPORATION
New Mountain Finance Corporation (NASDAQ: NMFC) is a leading business development company (BDC) focused on providing direct lending solutions to
ABOUT NEW MOUNTAIN CAPITAL
New Mountain Capital is a
FORWARD-LOOKING STATEMENTS
Statements included herein may contain “forward-looking statements”, which relate to the Company’s business, including, but not limited to, the timing and the number of shares to be repurchased, if any, under the Repurchase Program, future operations, future performance or the Company’s financial condition. Forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including the current conflict between
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New Mountain Finance Corporation
Investor Relations
Laura C. Holson, Authorized Representative
NMFCIR@newmountaincapital.com
(212) 220-3505
Source: New Mountain Finance Corporation
FAQ
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