M&A - New Mountain Private Credit Fund
Form Type: 8-K
Filing Date: 2025-01-31
Corporate Action: Merger
Type: New
Accession Number: 000158064225000608
Filing Summary: On December 17, 2024, New Mountain Private Credit Fund completed its acquisition of New Mountain Guardian III BDC, L.L.C. pursuant to a Merger Agreement dated October 11, 2024. In this transaction, GIII was merged into the Fund, which continued as the surviving entity. Unitholders of GIII were provided the opportunity to transfer their units to the Fund in exchange for common shares of beneficial interest. As a result of the Rollover Transaction and a Private Offering, the Fund issued 39,025,005 Shares totaling $975,625,123. Additionally, on January 30, 2025, the Fund's Board of Trustees declared a distribution of $0.19 per Share to shareholders of record as of January 31, 2025, payable on or about February 28, 2025. The NAV per Share was determined to be $25.07 as of December 31, 2024, with an aggregate NAV of approximately $978.2 million.
Additional details:
Item 3 02 Rolling Transaction: Acquisition of New Mountain Guardian III BDC, L.L.C.
Item 3 02 Merger Agreement Date: 2024-10-11
Item 3 02 Shares Issued: 39,025,005
Item 3 02 Aggregate Principal Amount: $975,625,123
Item 7 01 January 2025 Distribution: $0.19 per Share
Item 8 01 Nav Per Share: $25.07
Item 8 01 Total Nav: $978.2 million
Item 8 01 Fair Value Investment Portfolio: $1,495.6 million
Item 8 01 Debt Outstanding: $574.7 million
Item 8 01 Debt Capacity: $850.0 million
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