New Mountain Finance on Jan. 4 announced that the business development company's board has authorized an extension of a program for repurchasing up to $50 million worth of its common stock. The company said that the extension of the repurchase program was undertaken to prevent the undervaluation of the company’s share price due to continued market volatility and uncertainty. The repurchase program will be executed by Dec. 31, 2021 or earlier. The timing and number of shares to be repurchased will depend on market conditions and alternative investment opportunities. To date, New Mountain Finance (NMFC) has made repurchases worth $2.9 million under the program.