{"url_path":"/sec/cik-0002033695/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of Proceeds","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/2033695/0001193125-26-217309-index.html","accession_number":"0001193125-26-217309","cik":"0002033695","ticker":null,"issuer_name":"New Mountain Net Lease Trust","edgar_url":"https://www.sec.gov/Archives/edgar/data/2033695/0001193125-26-217309-index.html","primary_entity_key":"0002033695","primary_entity_name":"New Mountain Net Lease Trust"},"word_count":341,"has_tables":true,"body_markdown":"ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds\n\n## Offering of Common Shares\n\nIn our continuous, blind pool private offering, we are offering and selling our common shares pursuant to an exemption from registration provided by Section 4(a)(2) of the Securities Act and Regulation D promulgated thereunder. There is no established public trading market for our common shares currently, and we do not expect that such a market will ever develop in the future.\n\nExcept as previously reported by the Company on its current reports on Form 8-K, the Company did not sell any securities during the period covered by this Form 10-Q that were not registered under the Securities Act.\n\n##  \n\n## Share Repurchases\n\nOn December 16, 2024, our Board of Trustees adopted a share repurchase plan, pursuant to which shareholders may request on a quarterly basis that we repurchase all or any portion of their common shares, subject to certain limitations as set forth therein. The aggregate NAV of total repurchases of Class A shares, Class F shares, Class I shares and Class E shares under its share repurchase plan is limited to no more than 5% of the Company’s aggregate NAV per calendar quarter (measured using the average aggregate NAV as of the end of the immediately preceding three months).\n\nOur share repurchase plan provides shareholders with the opportunity to request that we repurchase their shares on a quarterly basis (after any applicable lock up period), but we are not obligated to repurchase any shares and may exercise discretion in repurchasing only a portion or none of the requested shares in a given quarter. In addition, repurchases will be subject to available liquidity and other significant restrictions. Our Board of Trustees may modify or suspend our share repurchase plan if in its discretion it deems such action to be in our best interest. As a result, our shares should be considered as having only limited liquidity and at times may be illiquid.\n\nThe Company did not receive any repurchase requests during the three months ended March 31, 2026."}