Logan Ridge Finance Corp Stock Price, News & Analysis

Logan Ridge Finance Corporation (LRFC) has announced a rescheduling of its Special Meeting of Stockholders from June 6 to June 20, 2025, to allow shareholders additional time to vote on the proposed merger with Portman Ridge Finance Corporation (PTMN). The LRFC Board of Directors unanimously recommends stockholders vote 'FOR' the merger proposal, which has also received support from leading proxy advisory firms ISS and Glass Lewis. Stockholders who held shares as of the May 6, 2025 record date can participate in the virtual meeting through the provided website or by calling 1-833-218-3962. Those who have already voted need not take further action unless they wish to change their vote, and previously submitted proxies will remain valid for the reconvened meeting.

Logan Ridge Finance Corporation (LRFC) reported its Q1 2025 financial results. The company posted net investment income of $0.35 per share and declared a Q2 2025 distribution of $0.36 per share. Net asset value decreased to $29.66 per share from $32.04 in the previous quarter. Total investment income was $4.6 million, down from $5.4 million in Q4 2024. The company made $15.1 million in new investments with net deployment of $2.7 million. LRFC successfully exited its equity investment in GA Communications, reducing non-yielding equity portfolio to 10.8% from 18.2% year-over-year. The debt portfolio represented 86.6% of total investments with a weighted average yield of 10.7%. The company is pursuing a merger with Portman Ridge Finance Corporation (PTMN) and encourages shareholders to vote in favor.

Logan Ridge Finance (Nasdaq: LRFC) has announced it will release its Q1 2025 financial results on Thursday, May 8, 2025, after market close. The company will host a conference call to discuss these results on Friday, May 9, 2025, at 11:00 a.m. ET.

Investors can access the call by dialing (646) 307-1963 approximately 10 minutes before the start time, using conference ID 8145997. A replay will be available until May 16, 2025. Additionally, a live audio webcast will be accessible via https://edge.media-server.com/mmc/p/gfza9jq4, with the recording later available on the company's website under the Investor Resources section.

Logan Ridge Finance (LRFC) reported strong Q4 2024 results with net investment income of $0.56 per share and NAV of $32.04 per share. Total investment income for Q4 2024 reached $5.4 million, up from $4.4 million in Q4 2023.

For full year 2024, LRFC achieved total investment income of $20.9 million and net investment income of $4.2 million ($1.56 per share). The company declared a Q1 2025 distribution of $0.36 per share, representing a 13% increase from Q1 2024.

Key developments include the announced merger agreement with Portman Ridge Finance , where LRFC shareholders will receive 1.500 newly-issued PTMN shares for each LRFC share. The company's investment portfolio consisted of 59 portfolio companies with an aggregate fair value of $172.3 million, with 83.3% in debt investments yielding approximately 10.7%.

Portman Ridge Finance (PTMN) and Logan Ridge Finance (LRFC) have announced a merger agreement where LRFC will merge into PTMN. The combined entity will continue trading as PTMN on Nasdaq and will be managed by Sierra Crest Investment Management.

Key transaction highlights include:

• Expected total assets over $600 million and NAV of approximately $270 million
• LRFC shareholders will receive 1.50 newly issued PTMN shares for each LRFC share
• The merger values LRFC at $25.02 per share, a 4% premium to its January 24, 2025 closing price
• Expected annual operating expense savings of $2.8 million
• Over 70% of LRFC's portfolio at fair value expected to be BC Partners-originated assets at closing
• Transaction expected to complete in Q2 2025

Sierra Crest has agreed to waive up to $1.5 million in incentive fees over eight quarters post-merger. The deal is subject to shareholder approvals and other closing conditions.

Logan Ridge Finance (LRFC) has announced its schedule for the release of fourth quarter and full year 2024 financial results. The company will release its results on Thursday, March 13, 2025, after market close, followed by a conference call on Friday, March 14, 2025, at 11:30 a.m. ET.

Investors can access the conference call by dialing (646) 968-2525 approximately 10 minutes before the start time, using conference ID 1779602. A replay will be available until March 21, 2025. Additionally, a live audio webcast will be accessible through the company's website at loganridgefinance.com under the Investor Resources section.

Logan Ridge Finance (LRFC) and Portman Ridge Finance (PTMN) have announced the formation of special committees of independent directors to evaluate their potential business combination. Both companies' boards have established these committees to assess various merger scenarios, including exchange ratios different from NAV-for-NAV, such as relative market price or fixed exchange ratios.

The special committees have retained prominent financial and legal advisors: Keefe, Bruyette & Woods, Inc. and Stradley Ronon Stevens & Young, LLP for Portman Ridge, while Logan Ridge has engaged Houlihan Lokey, Inc. and Skadden, Arps, Slate, Meagher & Flom LLP. The companies note that there is no guarantee the business combination will be approved or completed.

Logan Ridge Finance (LRFC) reported Q3 2024 financial results with Net Investment Income of $1.0 million ($0.37 per share), up from $0.8 million in Q2 2024. Total Investment Income was $5.1 million, down from $5.4 million in Q2. The company's net asset value decreased to $32.31 per share from $33.13. A significant milestone was the exit from its largest equity investment, Nth Degree, for $17.5 million, approximately $2.0 million above fair value. The Board declared a Q4 distribution of $0.36 per share, representing a 9% increase from Q3. The company also amended its credit facility with KeyBank, reducing margins and extending maturity dates.

Logan Ridge Finance (LRFC) has announced it will release its Q3 2024 financial results on Thursday, November 7, 2024, after market close. The company will host a conference call to discuss these results on Tuesday, November 12, 2024, at 11:00 a.m. ET. Investors can access the call by dialing (646) 307-1963 with conference ID 1567736. A live webcast will be available online, and a replay will be accessible through November 19, 2024.