New Mountain Finance extends stock buyback program through 2027

New Mountain Finance Corporation (NASDAQ: NMFC) announced that its board of directors authorized an extension of its existing stock repurchase program through December 31, 2027, having previously been set to expire on December 31, 2026.

Under the program, NMFC may repurchase up to $150 million worth of its common stock in the open market. As of the announcement, the company has made approximately $70 million in repurchases under the program, leaving up to $80 million in remaining capacity.

The program will conclude at the earlier of December 31, 2027, or when $150 million worth of shares have been repurchased. The company is not obligated to make additional repurchases, and any transactions must comply with Rule 10b-18 of the Securities Exchange Act of 1934 and the Investment Company Act of 1940.

The board cited market volatility and uncertainty as factors that may cause the company's common stock to trade below what it considers fair value. The timing and volume of any repurchases will depend on market conditions and alternative investment opportunities.

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