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New Mountain Finance Corp. ( NMFC ) said it has commenced an underwritten offering of 3.75 million shares of its common stock, with an option to purchase an additional 562,500 shares granted to the underwriters.

In a statement released Monday after the close of trading, the financial institution said it plans to use the net proceeds from the offering primarily for new investments in portfolio companies in accordance with its investment objective and strategies.

The company may also use a portion of such net proceeds for other general corporate purposes, including to temporarily repay indebtedness and other working capital needs.

The joint-lead book-running managers for the offering are Wells Fargo Securities, Morgan Stanley, Goldman Sachs and Keefe, Bruyette & Woods.

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