NMFC Q3 NII $0.32/share; dividend raised to $0.32; CEO succession set

New Mountain Finance Corp

2022-Q3 EPS reported $0.59

Q3 net investment income $0.32 per share; NAV per share $13.20 (down 1.6% from $13.42 in Q2).
Board declared Q4 distribution $0.32 per share, 7% increase from $0.30, payable Dec 30, record Dec 16.
John R. Kline appointed CEO effective Jan 1, 2023; Robert Hamwee becomes Vice Chairman.
Completed $200M private offering of 7.50% convertible notes due 2025; launched tender for up to $201M of 2018 notes.
Portfolio fair value $3.25B across 108 companies; 92% rated green; statutory debt/equity 1.26x.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

John R. Kline

Chief Executive Officer

NMFC · New Mountain Finance Corp

Effective: 2023-01-01
Filed: November 8, 2022, 6:59 PM ET

On November 7, 2022, the Company’s board of directors appointed John R. Kline as the Chief Executive Officer of the Company, effective January 1, 2023, in addition to continuing in his role as President and a director.

Role change

Robert A. Hamwee

Vice Chairman

NMFC · New Mountain Finance Corp

Effective: 2023-01-01
Successor: John R. Kline
Filed: November 8, 2022, 6:59 PM ET

Also on November 7, 2022, the Company’s board of directors received and accepted the resignation of Robert A. Hamwee as Chief Executive Officer and appointed him Vice Chairman of the board of directors, effective January 1, 2023, with the continued ability to allocate half of his time to activities outside of credit and NMFC.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

New Mountain Finance Corp reported quarter ended September 30, 2022 results: net income $0.32 per weighted average share.

Period: quarter ended September 30, 2022
Net income: $0.32 per weighted average share
Result: reported results

Exact text from the filing

On November 8, 2022, New Mountain Finance Corporation (“NMFC” or the “Company”) issued a press release announcing financial results for its quarter-ended September 30, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John R. Kline was appointed as Chief Executive Officer at New Mountain Finance Corp.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On November 7, 2022, the Company’s board of directors appointed John R. Kline as the Chief Executive Officer of the Company, effective January 1, 2023, in addition to continuing in his role as President and a director.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert A. Hamwee was appointed as Vice Chairman at New Mountain Finance Corp.

Action: resigned as CEO and appointed Vice Chairman
Role: Vice Chairman

Exact text from the filing

Also on November 7, 2022, the Company’s board of directors received and accepted the resignation of Robert A. Hamwee as Chief Executive Officer and appointed him Vice Chairman of the board of directors, effective January 1, 2023, with the continued ability to allocate half of his time to activities outside of credit and NMFC.

View on SEC.gov

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New Mountain Finance Corp filing history →

Source: SEC EDGAR

accession 0001496099-22-000012

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