New Mountain Finance Corporation (NASDAQ: NMFC) announced on October 26, 2026, that its board of directors has approved an extension of the company's existing stock repurchase program. The program, which was originally set to expire on December 31, 2026, has now been extended through December 31, 2027.
Under the terms of the program, the company is authorized to repurchase up to $150 million worth of its common stock at the discretion of management. Repurchases are to be conducted in the open market, subject to compliance with the Company’s Code of Ethics and the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended. These guidelines include certain price, market volume, and timing constraints.
To date, the company has repurchased approximately $70 million worth of shares under this program. The company expects the program to remain in effect until the earlier of December 31, 2027, or the date the total repurchase amount reaches $150 million.
The board authorized the extension based on its belief that sustained market volatility and uncertainty may cause the company's common stock to be undervalued. The timing and number of shares repurchased will depend on market conditions and alternative investment opportunities.
