Company: NMFCZ
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001496099-25-000035
Chunk: 249

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 249
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15, 2025, the Company repaid the outstanding principal and accrued but unpaid interest in cash on the 2022 Convertible Notes, which matured on October 15, 2025. The 2022 Convertible Notes matured on October 15, 2025, pursuant to the terms of the 2018C Indenture. The Company could not redeem the 2022 Convertible Notes prior to July 15, 2025. On or after July 15, 2025, the Company could have redeemed the 2022 Convertible Notes for cash, in whole or from time to time in part, at the Company's option at a redemption price, subject to an exception for redemption dates occurring after a record date but on or prior to the interest payment date, equal to the sum of (i) 100% of the principal amount of the 2022 Convertible Notes to be redeemed, (ii) accrued and unpaid interest thereon to, but excluding, the redemption date and (iii) a make-whole premium.The following table summarizes certain key terms related to the convertible features of the 2022 Convertible Notes as of September 30, 2025:2022 Convertible NotesInitial conversion premium(1)14.7 %Initial conversion rate(2)70.4225 Initial conversion price$14.20 Conversion rate at September 30, 2025(1)(2)73.6283 Conversion price at September 30, 2025(2)(3)$13.58 Last conversion price calculation dateSeptember 16, 2025(1)Conversion rates denominated in shares of common stock per $1 principal amount of the 2022 Convertible Notes converted.(2)Represents conversion rate and conversion price, as applicable, taking into account certain de minimis adjustments that would be made on the conversion date.(3)The conversion price in effect at September 30, 2025 on the 2022 Convertible Notes was calculated on September 16, 2025.Prior to the maturity of the 2022 Convertible Notes, the conversion rate was be subject to adjustment upon certain events, such as stock splits and combinations, mergers, spin-offs, increases in dividends in excess of $0.30 per share per quarter for the 2022 Convertible Notes and certain changes in control. Certain of these adjustments, including adjustments for increases in dividends, were subject to a conversion price floor of $12.