Company: NMFCZ
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001496099-25-000035
Chunk: 425

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 425
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 companies in our portfolio or other factors.

Recent Developments

On October 15, 2025, we repaid the outstanding principal of $258.7 million and accrued but unpaid interest in cash on the 2022 Convertible Notes, which matured on October 15, 2025.

On October 23, 2025, our board of directors authorized and established a program for the purpose of repurchasing up to $100.0 million of our common stock (the "Repurchase Program"). We expect the Repurchase Program to be in place until the earlier of December 31, 2026 or until $100.0 million of our outstanding shares of common stock have been repurchased.  

On October 27, 2025, the Company entered into the Third Amended and Restated Uncommitted Revolving Loan Agreement, which amended the Unsecured Management Company Revolver to, among other things, extend the maturity date from December 31, 2027 to December 31, 2030.

On October 28, 2025, our board of directors declared a fourth quarter 2025 distribution of $0.32 per share payable on December 31, 2025 to holders of record as of December 17, 2025.

Critical Accounting Estimates

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the periods reported. Actual results could materially differ from those estimates. We have identified the following items as critical accounting policies.

Basis of Accounting

We consolidate our wholly-owned direct and indirect subsidiaries: NMF Holdings, NMF Servicing, NMFDB, SBIC I, SBIC I GP, SBIC II, SBIC II GP, SBIC III, SBIC III GP, NMF Ancora, NMF QID, NMF YP, NMF Permian, NMF HB, NMF TRM, NMF Pioneer and NMF OEC and our majority-owned consolidated subsidiary, NMNLC. We are an investment company following accounting and reporting guidance as described in Accounting Standards Codification Topic 946, Financial Services—Investment Companies ("ASC 946"). 

Valuation and Leveling of Portfolio Investments

At all times consistent with GAAP and the 1940 Act, we conduct a valuation of our assets